Sherwood Boehlert: “with great regret, but with even greater conviction, I rise in opposition to this bill. While this bill certainly has…”

“with great regret, but with even greater conviction, I rise in opposition to this bill. While this bill certainly has some worthy provisions, including those reported out by our committee, overall this bill is a step backward. This bill will not lessen our dependence on foreign oil, and it will do nothing to reduce energy prices. It will increase the deficit, weaken our economy, compromise our national security and endanger our environment. The supporters of this bill are certainly right about one thing. We desperately need a good national energy policy. This measure does not pass that test. {time} 1545 Our growing dependence on foreign oil puts us at the mercy of unstable and unfriendly foreign regimes. It gives terrorists additional targets and puts money in their hands. It weakens the dollar by worsening the balance of trade. We would start every day $500 million- plus in the hole on our balance of trade because of the imported oil. It pumps money out of the domestic economy and into the hands of those who would wish us ill. In short, our oil dependence represents a significant and growing threat to our national security, and national security should be first and foremost in the minds and hearts of everyone in this Chamber. So what do we do to reduce our dependence on foreign oil? Yes, we need to increase the supply of fossil and nuclear and renewable energy. But most importantly, we need to become more energy efficient.…”