Peterson: Dem's Latest Energy Bill, More Harm Than Good

Statement

Peterson: Dem's Latest Energy Bill, More Harm Than Good

U.S. Representative John E. Peterson, R-Pa., a long-time advocate of increased domestic energy production, issued the following statement on Speaker Pelosi's latest attempt to provide political cover for her party but no energy relief for Americans:

"Having held out hope that the Speaker would be true to her word and bring a comprehensive, bipartisan energy bill to the floor that offers real relief to the American people, I am extremely troubled by the media reports and summary her office issued regarding energy legislation due to come before the House next week.

"Let me be clear, this bill does absolutely nothing to increase the domestic production of oil and natural gas and decrease our dependence of foreign imports. In fact, doing nothing at all would better than supporting this legislation.

"I will actively oppose this legislation for the following reasons:

1. Further restricts domestic production: The Democrat's bill will permanently lock up the first 50 miles of coastline and keeps the next 50 miles under lock-and-key until coastal states pass a law permitting production. Without any incentive to produce off their coast, this bill essentially locks up the first 100 miles of coastline where most of our resources are located.

2. Royalty sharing: This bill does not share royalty revenues with coastal states, giving them no incentive to approve production off their coasts. Under current policy, producing states receive royalties from offshore production.

3. Bridge to the renewable energy future: This bill does not provide funding for environmental restoration or a sustainable funding mechanism to develop alternative and renewable energy sources, which will decrease our dependence on fossil fuels.

"In the coming days I will do everything in my power to advance bipartisan legislation. H.R. 6709, the bipartisan energy plan that I crafted with Representative Abercrombie (D-HI) and a bipartisan group of 25 other Members, is a true compromise between rank-and-file Republicans and Democrats. This bill is comprehensive, bipartisan and currently has 137 cosponsors.

"The time for politics is over. If Speaker Pelosi was serious about solving this energy crisis, she should put politics aside and bring H.R. 6709 up for a vote."

Source