Drill Responsibly, Create New Energy Jobs
Statement
There is no question that drilling for oil will be part of our energy strategy for the foreseeable future. However, I believe we can increase oil production in a responsible way, while also creating new jobs and shifting to a renewable energy infrastructure.
That's why I announced legislation in the Michigan Senate today to responsibly increase oil drilling in our state, while at the same time making sure taxpayers and consumers benefit from the increase - not just the Big Oil companies.
Not unlike the "Use It or Lose It" legislation that Congress took up earlier this summer, my plan would require oil companies to start producing oil from the leases they already control. There are at least 5,000 leases in Michigan that have been claimed by oil companies, but are not being used to produce oil - almost twice the number of leases that are being actively drilled.
If oil companies are using undeveloped leased land to make money on Wall Street, then we need to make sure that Michigan drivers on Main Street see some relief at the pump as well.
Under my plan, oil companies that stockpile leases would be forced to develop the land, return it to the state, or waive their right to acquire any new leases. We would also modernize Michigan's outdated leasing system, allowing us to re-direct leasing revenue into research for clean, renewable energy technology.
America needs a comprehensive, bipartisan energy strategy that addresses our short, medium, and long-term energy needs. My proposal is just part of a broader solution, meant to move our country towards energy independence and pave the way for Michigan to be a leader in the booming renewable energy sector.
By encouraging responsible domestic drilling, protecting invaluable natural resources like the Great Lakes, ending tax breaks for Big Oil and investing in renewable energy, we will create thousands of green collar' jobs, meet our future energy needs and declare independence from foreign oil once and for all.
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