J.C. Watts: “on this historic fifth anniversary of the Persian Gulf war, the lessons seem clear: America must work toward energy…”

“on this historic fifth anniversary of the Persian Gulf war, the lessons seem clear: America must work toward energy independence. But, this Nation seems to be ignoring the lessons of the past and heading in exactly the wrong direction--toward over dependence on foreign energy sources. As leaders, we must make every effort to help America's oil and gas industry thrive. By helping the American oil and gas industry thrive, we will create new jobs, more revenues and increased national security. But we must unleash this strategic industry from its regulatory noose. Currently, instead of cutting down on bureaucratic regulations, the administration and some in Congress have proposed more than $14 billion in new industry regulations that would take effect over the next 5 years. My colleagues on the House Resources Committee seem to understand these costs. Today, they will markup a bill, the Oil and Gas Royalty Fairness and Implication Act, that makes sense. It cuts through the bureaucracy and provides certainty, simplicity, fairness and efficiency in royalty collection. This is something that industry and the administration can agree on. I hope we can too. It is time to free America's oil and gas industry from over regulations so that this Nation can be free from its foreign oil dependency.”