georgefearing.com

During this year’s election campaign, Representative Doc Hastings continues to repeat his party’s talking points on soaring gas prices, without offering a real solution or taking accountability for his steadfast support of big oil companies.

Prices at the pump have almost tripled since Bush took office. To know where Rep. Hastings’ allegiances lie, one has only to look at his record. He has voted for billions of dollars in tax subsidies for big oil, at the same time these oil companies have posted record profits for each consecutive year under the Bush Administration. Last year Exxon Mobil posted the highest profits of any American company in history. Hastings has also received more than $63,000 in campaign contributions from the oil and gas sector.

Furthermore Doc Hastings has voted against legislation which would require the Justice Department to hold OPEC and oil companies accountable for price fixing or limiting the supply of oil (HR 6074), even though consumers are desperate for relief at the pump. As further evidence of Hastings’ allegiance to the oil companies, he was the only Washington Congressman to vote against the federal Price Gouging Prevention Act, designed to prevent consumers from being gouged at the pump.

Hastings also recently voted against “Use it or Lose it” legislation to require Big Oil companies to drill on the 68 million acres of public lands they are currently stockpiling under oil leases here in the US before being allowed the opportunity to acquire new oil leases, thereby effectively hoarding more domestic supply and further driving up prices. Over 80% of federal land leased to oil companies is sitting idle. The total unused acreage is equal in size to the state of Colorado.

These existing leases contain 80% of all federal oil deposits. Oil companies are already leasing 33 million acres off-shore as well, and, again, 80% of all off-shore oil is already open for exploration. In addition, big oil already has drilling access to the National Petroleum Reserve-Alaska (NPR-A) which sits next to ANWR, the Arctic National Wildlife Reserve. The NPR-A was set aside specifically for oil and gas exploration and is larger in size than ANWR. This petroleum reserve has been open to the oil companies for exploration for the last 26 years, but they have only drilled 25 wells here. Even though Exxon found oil here, they chose to cap these wells and sit on them, presumably for future development, while they continue to complain they need drilling rights in ANWR, too. Only one private well has been drilled in ANWR and the results of this well have never been publicized.

It is estimated that the 68 million acres of leased, inactive federal land would produce 4.8 million barrels of oil and 44.7 billion cubic feet of natural gas each day. That would nearly double total US production of oil, and also increase natural gas production by 75%. .It is also estimated that the development and production from this 68 million acres would cut US dependence on foreign oil imports by one-third. 4.8 million barrels of oil equals more than six times the estimated peak production from ANWR, the Arctic National Wildlife Refuge. Furthermore, results from drilling in ANWR will not be seen for 10 years, and after 20 years would only result in a saving 2 cents per gallon

George Fearing also joins Congressional Democrats in calling on President Bush to immediately open up a small portion of the SPRO, the Strategic Petroleum Reserve, in order to reduce gas prices immediately, particularly for small businesses and consumers who are suffering serious hardships. Neither Doc Hastings nor President Bush has shown any interest in utilizing a small portion of these SPRO reserves, even though the US is dangerously dependent on foreign oil.

Republicans have criticized the ‘Use It of Lose It’ legislation saying that the oil companies cannot afford to actively step up drilling efforts on the 68 million acres they now lease. They also point out that not all of this 68 million acres contains oil anyway. Well, it must be of considerable interest to the oil companies, or they would not bother to lease it from the government in the first place. Secondly, a recent government sale of oil leases this spring, in March, 2008, produced $3.8 billion in sales. When we see big oil companies like Andarko, Exxon and Chevron plunk down $300 or $400 million dollars for more oil leases, it’s hard to believe that they can not afford the cost to drill for oil here on the lands they’re already leasing, both in the continental United States and off-shore.

The oil lobby also argues that they should be allowed to acquire more oil leases because they have brought billions of dollars of revenue into state and federal treasuries. While this is true, it is also true that they have evaded paying billions of dollars in royalties. Both federal and state governments have maintained large auditing departments for decades, whose sole job is to track down unpaid oil royalty revenues. A report filed by the non-partisan Congressional Budget Office, found that auditors collected an average of $176 million per year in these unpaid revenues between 1989-2001.But during the Bush Administration these collection efforts have been cut by almost 75%, down to $46 million recovered each year, and the Bush Interior Department has also revoked auditors’ rights to subpoena oil company records. Numerous federal auditors have filed suit over the past several years to expose the Department’s practice of shielding oil companies from investigation.

Although, Hastings says we need to expand our new sources of energy, he voted against the Renewable Energy and Job Creation Act (H.R. 6049) and H.R. 5351, and many similar renewable energy bills.

When asked to comment on Hastings’ continual support for Big Oil, Fearing said: “The record is clear that Doc Hastings has consistently sided with Big Oil and against the average consumer. The ANWR issue has been fabricated to deflect public attention away from the oil companies’ continual pattern of hoarding supply and driving up prices. They are seeking a complete monopoly of America’s domestic oil supply, and refuse to spend their windfall profits on developing the 80% of all federal oil lands they already control. It’s shameful.”

Fearing also added, “While I support a ‘Use It or Lose It’ policy and would push to see it implemented as soon I am elected, I also realize drilling alone can never make America energy independent and energy independence is a matter of national security. After all, America is sitting on only 2% of the world’s oil supply, but our country accounts for 25% of the world’s oil consumption. Right now we must force Big Oil to drill on the 68 million acres it is currently leasing, which will eventually reduce our dependence on foreign oil by one third. At the same time we must begin manufacturing more fuel efficient cars, reduce oil consumption and develop alternative sources of energy. As we look to the future, with increased oil demand driven by China and India, it only makes sense for us to develop cheaper sources of fuel and cut our over-dependence on oil altogether. I know this doesn’t make the big oil companies happy, but it is simply a fact of life.”

Fearing further questioned Doc Hastings’ sincerity in claiming to be concerned about energy issues, noting, “Even though the Tri-Cities is recognized as a world leader in energy production and research, Doc Hastings has consistently refused to show leadership and serve on the House Energy Committee. As a member of Congress, I will make seeking a seat on the Energy Committee one of my top priorities.”