Tackling High Gas Prices

Statement

With skyrocketing gas prices, we have all felt the pain at the pump lately. Increasing gas prices and gloomy predictions are hurting families, businesses and our economy. For every penny the price of gasoline increases, it costs consumers an additional $4 million per day. The instability in the Middle East and North Africa underscores the need to actively produce our own American energy resources. According to a recently released CRS report, the United States combined recoverable oil, natural gas, and coal resources is 1.3 trillion barrels of oil equivalent -- the largest in the world.

Unfortunately, current policies are threatening to increase taxes without giving any thought to exploring offshore drilling. The Environmental Protection Agency (EPA) is attempting to impose its own job-destroying national energy fees and policies with regulations under the Clean Air Act, and there are more than $60 billion in tax and fee increases on American energy production in President Obama's proposed 2012 budget.

House Republicans have launched the American Energy Initiative - an ongoing effort to stop government policies that are driving up gasoline prices; expand American energy production to lower costs and create more jobs; and promote an "all-of-the-above' strategy to increase all forms of American energy. As part of the initiative, the Natural Resources Committee has introduced a number of specific bills that aim to move forward with offshore drilling and increase production of American energy. The bills -- which passed the House in the past month-- include the Putting the Gulf of Mexico Back to Work Act (H.R. 1229), and the Reversing President Obama's Offshore Moratorium Act (H.R. 1231).

Expanding American energy production will lower prices, create new American jobs, reduce our dependence on foreign oil, strengthen our national security and raise revenue to help tackle the $14 trillion national debt. In addition to increasing domestic energy, oil and natural gas drilling in Ohio's Utica and Marcellus shale deposits could create an energy and economic boom in the state and district.

Another important piece of legislation is the Roadmap for America's Energy Future (H.R. 909) which aims to cut through the bureaucratic red tape and move forward with leasing and drilling in the Outer Continental Shelf (OCS) and with oil shale leasing programs halted by the Administration. It also moves forward with environmentally responsible exploration in the Arctic National Wildlife Reserve (ANWR), exploration which could lead to 1 million barrels of domestic oil each day.

There is no quick fix or simple solution, but there are solutions. While we all want to be good stewards of the environment, America must become less reliant on foreign oil by using all of our natural resources domestically. This includes wind, solar, nuclear, ethanol, clean coal, natural gas and oil. Opening domestic offshore drilling will help decrease America's dependence on foreign oil -- something that is essential to our energy policy and our national security.

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