"Energy Security: An American Imperative"

Statement

"Energy Security: An American Imperative"

"Energy Security: An American Imperative" was the subject of a recent hearing before the Senate Homeland Security Committee. As a leader of the Committee, I am convinced that America's dependence on foreign oil is a serious threat to our economic and national security. As a Senator representing Maine, I know that the soaring price of oil is causing great harm to the major industries that drive our economy, to the small businesses that are the backbone of our communities, and to families throughout our state.

Our nation must embrace a comprehensive strategy to reduce, and ultimately eliminate, our reliance on foreign oil. We must expand and diversify American energy resources and in doing so, improve our environment. This will require dramatic changes in public policy, a commitment to new technology, and, in Washington, a strengthening of political will.

Among the expert witnesses I invited to the hearing was T. Boone Pickens, the Texas oilman who recently released a far-sighted plan to reduce the country's dependence on foreign oil by an estimated 38 percent. In his first Capitol Hill appearance since releasing the "Pickens Plan," he described his vision of producing energy from wind in the Midwest and increasing the use of natural gas for transportation as a "bridge fuel," thus allowing time for more alternative energy sources to be developed.

The "Pickens Plan" is ambitious and expensive, yet its estimated cost is less than what the U.S. spends on foreign oil in just one year, which is an astounding $700 million, according to Mr. Pickens. Mr. Pickens vividly illustrated our ever-increasing dependence on foreign sources of oil from the Middle East and Venezuela, and how we are impoverishing ourselves while enriching regimes that are hostile to America.

Ending our dependence on foreign oil and securing our own energy future is a great technological challenge. That is why I invited University of Maine Professor Dr. Habib Dagher to testify at the hearing. Through his remarkable work in engineered wood composites, I have come to know Dr. Dagher as someone with great vision. He understands, perhaps better than anyone I have ever met, how to take the theoretical and make it practical.

His powerful testimony presented bold and innovative ideas about addressing our energy needs in the Northeast. He spoke of the potential for wind power to supply as much as 40 percent of the nation's electricity, calling the Gulf of Maine, the "Saudi Arabia of wind." Deep shore wind production, out-of-sight from land, could provide an affordable source of renewable electricity directly to the country's population centers on each coast while supplying thousands of new jobs. In addition, it would diversify Maine's energy supply so that people could switch from using home heating oil to heat pumps.

Dr. Dagher also provided a stark assessment of the price we will pay if we fail to make these investments. And the price will be ruinous, particularly here in Maine. Just 10 years ago, he stated, less than five percent of a Maine family's budget went to energy. Today, it is close to 25 percent. In another 10 years, he warned, energy costs could consume as much as half of a Maine's family budget if we do not make the necessary changes. The consequences for our state's economy, for our communities, and for our people would be dire.

It is essential that we make those changes. Solving the energy crisis requires the entrepreneurial spirit of the private sector, an understanding of the specific economic and environmental issues at stake, and a commitment to the research and development of new technologies. Some of the best ideas about what we need to do now and over the next five years are coming from people right here in Maine, such as Dr. Dagher.

It also requires action by government. I have outlined the actions government must take in the 10-Point Energy Plan I introduced this spring. With the goal of reducing America's dependence on oil, I devoted several aspects of my plan to renewable and alternative energy sources, including: increased federal funding for alternative energy projects, a national renewable electricity standard, investment in cellulosic ethanol and renewable fuels, and promoting tidal, geothermal, solar, wind, and wood energy.

From establishing a timeline for energy security to undertaking critical investments to stimulate research in alternatives to expanding production and conservation tax credits, government has a critical role to play. We must recognize that energy security is the new American imperative.

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