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.
On the recordJanuary 6, 2011
Editor's note · Context
The speaker addresses the need for energy independence and the economic benefits of offshore oil and gas resources.
Share
More from Tim Murphy
Sep 12, 2017
I demand a recorded vote. The Acting CHAIR. Pursuant to clause 6 of rule XVIII, further proceedings on the amendment offered by the gentleman from Pennsylvania will be postponed. Amendment No. 156 Offered by Mr. Kelly of Pennsylvania The…
Sep 27, 2017
I thank my friend from Arizona for her dedication to helping veterans. It will be often cited that 20 veterans a day take their own lives. It is important that we take a deeper dive into why that is because, as a society, we want to know…
Jul 25, 2017
This just sounds like one of the biggest Rube Goldberg messes the Government could come up with.





