On the recordJanuary 6, 2011
Mr. Speaker, well, here we go again. Gasoline: $3, $4, and soon $5 a gallon. Oil at $100 a barrel. Yet America's offshore resources total more than 86 billion barrels of oil and 420 trillion cubic feet of natural gas, enough oil to replace imports from Saudi Arabia and Venezuela for the next 80 years. But the administration's moratorium says ``no'' to American oil and ``yes'' to OPEC. We don't have to buy hundreds of billions of dollars worth of oil from OPEC, borrow $900 billion from China, run a massive trade deficit or raise taxes. The revenues and leases from offshore exploration can bring up to $3.7 trillion in Federal revenue to slash our deficit, build clean power plants, clean up our air and water, increase renewables, and rebuild our crumbling highways and bridges--all while creating millions of jobs and trillions in economic output. I hope my colleagues will join me as I reintroduce the bipartisan American Conservation and Clean Energy Independence Act so we can work on securing America's prosperity and American jobs using American resources. Stop talking; start building. ____________________





