For the past eight years this country has suffered as a result of the lack of a comprehensive energy policy. During this time, our reliance on foreign nations to supply our petroleum demands has increased. In the 1970's, when America faced its first oil embargo from OPEC nations, this nation imported approximately 33% of the oil that it consumed. Today, we import nearly 60% of the oil that we consume and by 2025, some have estimated that it will reach 70%. America's dependence on foreign nations to supply its energy needs combined with OPEC's control over the price of oil in the world market is not only a critical domestic policy issue, but will also become a serious foreign policy issue in the near future. We need strong leaders in Congress who will not only work across party lines but will also make aggressive but fair demands of domestic energy companies.
In Congress:
I will work to author and pass a comprehensive energy policy that will reduce the United States' dependence on foreign oil, and in so doing will weaken OPEC's control over the price of petroleum;
I will author a "use it or lose it" policy on unused oil leases in the Gulf of Mexico;
I will support expanded drilling in the Gulf of Mexico as long as energy companies dedicate a portion of their revenue from such operations towards alternative energy research and development;
I will work with leaders at both the state and federal levels to incentivize the hiring of local workers to fill the jobs created by expanded oil production in the gulf;
I will author and support legislation to dedicate tax revenue generated from expanded drilling in the Gulf of Mexico to funding coastal restoration and comprehensive category five flood protection; and
I will fight to establish a long-term energy policy to make the United States less dependent on foreign oil through aggressive research and development in alternative and/or renewable energy sources.
The United States consumes approximately 25% of the oil produced on this planet despite the fact that we comprise only about 4.5% of the world's population. We must start working right now to end our dependence on petroleum. As Ahmed Yamani, a Saudi Oil Minister, once said, "The Stone Age did not end because they ran out of stone." To accomplish this goal, I will work to create "ENERGY INCUBATORS" that will combine the resources of our academic institutions with private industry to more rapidly achieve tangible results from our alternative energy research. Given that the United States possesses one of the best university systems in the world, the government should more aggressively fund research and development in alternative energy. Furthermore, the Federal Government should adopt financial incentives to encourage existing energy companies to do the same. Existing domestic energy companies possess the greatest motivation to develop renewable energy sources. As such, I would work with domestic energy companies to draft a policy that would allow them to be part of the solution rather than part of the problem. Additionally, such a policy would be beneficial to the Second District in light of the fact that existing energy companies have already made significant capital investments in this region. I will fight to ensure that the Second District and the businesses within this district are leaders in the development of the next generation of energy sources.