On the recordFebruary 15, 2002
we have seen in the last year that energy security is related to economic security as well as to national security. Americans need and deserve an energy plan that truly moves us towards energy independence. At the same time, America's appetite for energy continues to grow each year. Over the next 10 years, the United States is expected to consume roughly 1.5 trillion gallons of gasoline, yet the United States holds only 3 percent of the known world oil reserves. There is no question that we need to free ourselves from our dependence upon foreign oil and the volatility associated with it. But increased production alone will not meet this demand. It is clear we need a new approach. Last year, Democrats promised our colleagues they would begin an open debate on energy legislation before the Presidents Day recess. Today we are keeping that promise and bringing to the floor an example of that new approach, a comprehensive, sensible, and balanced plan to address the energy challenges of our Nation. This bill will achieve a number of important objectives. It will reduce our dependence upon foreign oil. It will ensure abundant and affordable energy for all Americans. It will create jobs for American workers. It will improve our air quality and reduce emissions of greenhouse gases which will make the United States a more credible participant in the international effort to address this serious problem. This bill is the work of nine Senate committees.…
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