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Domenici Advocates Realistic Steps in March to Decrease U.S. Energy Dependence
Reducing American Energy Dependence--Let's be Realistic
March 7, 2006 - DOMENICI ADVOCATES REALISTIC STEPS IN MARCH TO DECREASE U.S. ENERGY DEPENDENCE
WASHINGTON – U.S. Senator Pete Domenici today encouraged policy makers and the public to be reasonable and responsible as the nation takes steps to reduce American dependence on foreign energy sources.
Domenici is chairman of the Senate Energy and Natural Resources Committee that today held the first of several hearings on mapping out long and short-term strategies for cutting into U.S. energy reliance on foreign energy sources. The committee on Wednesday is expected to approve two bills related to those strategies—opening up Lease Sale 181 in the Gulf of Mexico for natural gas exploration (S.2253) and acting on the Protecting America’s Competitive Edge (PACE) Act-Energy (S.2197).
“Our energy future is too important to our national security to reduce our discussion to expedient sound-bites or unrealistic expectations,” Domenici said. “Being this dependent could undermine our national security, economic strength and foreign policy. In order to make necessary changes, we must be realistic about what is possible in the near future.”
“I do not believe that energy self sufficiency is attainable in the short term. Such unrealistic optimism only leads to disappointment and cynicism tomorrow. And, it distracts us from achieving the real progress that is possible,” Domenici said. “While I strongly support the advancement of science and technologies to reduce our dependence on foreign energy sources, I think that we must also build the bridge to that age by accessing the oil and gas resources available in our country. And, we must reasonably and responsibly conserve our energy.”
Domenici indicated that the National Energy Policy Act that became law last August provides the nation with the framework for acting on immediate and long-term energy goals, and cited three specific examples:
· Ethanol – Established a new renewable fuel standard requiring the annual use of 7.5 billion gallons of ethanol and biomass by 2012, and authorized a loan guarantee for the world’s first commercial scale cellulosic biomass ethanol plant. (There is an expanded ethanol plant in Portales. Experts at today’s hearing testified that ethanol should be an immediate goal.)
· Oil Shale – Established a leasing program for research and development of technologies for the recovery of liquid fuels from oil shale and tar sands on public lands in Colorado, Utah and Wyoming. The United States has 75 percent of the world’s known oil shale resources.
· Incentives for Innovative Technologies – Provided loan guarantees and tax credits to encourage the development of cleaner, emission-free energy facilities that will reduce energy costs for homes and businesses.
On Wednesday morning, the committee will mark up the PACE-Energy Act (S.2197). It would, among other things, create a Director of Mathematics, Science and Engineering Education Programs at the DOE. It establishes science-based internships and sets up a Center of Excellence for Math and Science Education at each national laboratory. The bill will also establish a research grant program for scientists and engineers, as well as a new office within the DOE to direct advanced research projects. Finally, the bill doubles the authorized funding level for basic physical science research.
Related to the Gulf of Mexico, S.2253 has the potential of providing the United States with approximately 930 million barrels of oil and 5-6 trillion cubic feet (tcf) of natural gas.
Last year, U.S. net imports equaled 59 percent of the nation’s demand. Forty-one percent of total U.S. oil imports came from OPEC countries, equal to 27 percent of all U.S. consumption.
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