David Thomas: “I want to talk this morning a bit, as we have for some time, about energy. Energy, of course, is something we have…”

“I want to talk this morning a bit, as we have for some time, about energy. Energy, of course, is something we have talked about for some time--a good long time, as a matter of fact. Our experiences last summer in California emphasized the need for some changes in our energy policy so that we have more stability and reliability in energy. Of course, we also became aware of some of the things we must do in terms of energy, and we have worked on it for a very long time. Now, since September 11, I think we find some very compelling additional reasons that we need to do some things with energy. Obviously, we have not had an energy policy that we need to have in place over the years, and that is what we are seeking to do--to develop energy policy. Partly because, I suppose, of the lack of a policy and a real direction where we want to go over time, we have become very dependent on overseas oil sources. We are nearly 60 percent dependent on OPEC and others. So now, in terms of some of the uncertainty in the Middle East and around the world, I think we find ourselves with more concern about where we need to be in terms of energy. We have at least two compelling reasons, it seems to me, that make energy development and energy security even more important. One is to support our military activities. We have to have the energy to do that. The other is that we are talking about a stimulus for the economy, about building our economy.”