The United States imports more than 70% of our oil at a cost of $700 billion a year, leaving us vulnerable to oil marketers and foreign competition. Cleaner, cheaper and domestic energy sources provide the critical energy independence essential for our economic stability and our national security.
We can achieve independence and affordability through our 4-point plan:
• Increase Domestic Drilling and Refining Capacity – Drilling on existing oil leases could capture up to 5 billion barrels a day. We must also increase our refining capacity. 300 refineries have closed in the past 25 years.
• Alternative Energy – As a long-term investment in our energy security, the United States must invest aggressively in all forms of alternative energy, including those we currently use in the 4th Congressional District: nuclear power, wind, solar, and natural gas.
• Release Oil from the Strategic Petroleum Reserve – Just as we released oil from the reserve during the first Gulf War and following Hurricane Katrina, we must free some of our reserved resources again today.
• Conservation – Conservative use and passing measures that provide tax credits and encourage investment in energy remodels, efficient automobiles, and retrofitting of existing equipment and physical plants is an essential step in controlling our energy production and consumption.
Drill Now and Drill Responsibly
We need to drill, and we need to drill now. But we must drill responsibly.
That’s why George supports the “Use it or Lose it” Bill proposed by the Committee on Natural Resources. “Use it or Lose it” means that oil companies must act to produce from the American land they already lease, or let it go.
Oil companies currently lease 68 million acres of American land. Much of the land is leased because the land has proven rich oil deposits. Unfortunately, instead of developing drilling operations as expected, many companies have chosen to sit idle and simply ask for more. This is unacceptable.
There is no need to expend federal lands, like the Arctic National Wildlife Refuge (ANWR), or additional offshore territories until we have capitalized upon our currently leased land. We need to tell Big Oil, “Use it, or Lose it.”
Increase Refining Capacity
1998, our nation operated at over 95% refining capacity. Today we operate at 88% capacity. We are operating at our lowest refining capacity since 1992. Increasing our refining capacity will increase the available oil on the market as well as assist in driving down prices.
Research and Develop Alternative Fuel Sources
America’s economy is dependent on oil. With sky-high fuel costs, increasing worldwide demand and an accumulating ecological impact, insurmountable evidence proves the need to explore new fuel sources.
Central Washington is a pioneer in the energy sector. One of America’s largest hydroelectric power plants was constructed here, and operates more than 60 years after FDR cut the ribbon at Grand Coulee Dam. We have wind farms and plans for solar collectors, and a legion of scientific innovators in the Hanford community. Hanford could again become a leader in nuclear power; by recycling spent nuclear fuel rods into safe and clean electricity. Central Washington is in a unique position to provide decisive American leadership toward a sustainable and independent future.
Renewable energy is ideal; wind and solar resources can be infinitely tapped with little ecological damage. But although its potential is great, wind and solar are not yet able to generate enough electricity to meet the needs of our nation. We must continue to diversify our energy sector with development of cleaner and more efficient nuclear and biofuel industries, including clean-burning natural gas, as well as maintain and continue to develop current energy sources such as hydroelectric, wind, solar, geothermal, and wave power.
George wants to ensure we play a key role in planning for America’s energy future, so he will seek a seat on energy-related committees such as the Energy and Commerce Committee, Science and Technology Committee or the Committee on Natural Resources.
Our government has stockpiled the largest emergency petroleum reserve in the entire world. As of July 28th, 2008, our current inventory includes 706.8 million barrels. If we released about 70 million barrels now, we would relieve some of the financial pressure so many hard-working Americans are facing, as well as smooth the transition to an increase of responsible domestic oil production. We have tapped our reserve in the past to a positive effect, and we can and should again.
Stop Oil Company Price Gouging and Windfall Profits
In recent years, oil companies have raked in record-breaking profits. In 2006 ExxonMobil had a total profit of more $40 billion, and in the 2nd quarter of 2008 they broke their own record for the biggest quarterly profit ever reported by an American company. Despite these extraordinary sums, Congress hands out billions in tax subsidies to oil corporations every year. George advocates standing up to Big Oil, curbing the practice of price gouging, and passing along savings to the American people.
Prioritize Personal Conservation
A generation ago, the President and Congress sought aggressive tax benefits for consumers to invest in energy efficiency for their homes. Even George W. Bush supported a two-year energy tax credit plan, where homeowners could gain tax credits for insulating their homes, installing energy-efficient windows and tankless hot water heaters, and purchasing hybrid cars. Unfortunately, Doc Hastings voted to allow this program to expire, and homeowners are now on their own to make investments in their energy usage.
Tax write-offs and investment credits are an enormous boost to our economy, locally and nationally. As we have discovered, the United States spends more than $700 billion annually in foreign oil. If instead America were to invest in upgrading our factories, our stores, our homes and our vehicles, businesses small and large would benefit, construction and specialty workers would be engaged, and sales taxes would support our local economies instead of OPEC nations.
Where does Doc Hastings stand on the issues?
Hastings voted against “Use it Or Lose it.” He has voted to open ANWR to and to drilling offshore, even in areas opposed by local residents, without first asking oil companies to drill in areas they currently control.
Hastings is the only member of the Washington State congressional delegation to vote twice against federal bans on price gouging. He has also received more than $63,000 in campaign contributions from the oil and gas sector. It’s clear where his priorities lie.
Doc Hastings has failed to lead on any energy-related committees, unlike our three previous Representatives in the 4th Congressional District before him. Hastings often piggybacks on progressive legislation passed by Senators Murray and Cantwell, neglecting to lead but available for the photo op. It’s time for a change.
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