Energy Policy Modernization Act of 2015

Floor Speech

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Mr. CORNYN. Madam President, I know we will be breaking at the regular time for our policy luncheons. When I am finished speaking, I will yield the floor so that the Senator from Arizona can make any comments he wishes before we go into recess.

I want to say a few words about this legislation. I know that amidst the polarization and the circus-like atmosphere of our politics these days, people are really surprised to find out we were able to get some important work done here in the U.S. Senate in the year 2015.

While this Presidential selection process goes forward in Iowa, New Hampshire, and South Carolina for both Democrats and Republicans, I think it is important that we continue to do the people's work here in the Senate. I can't think of any better subject for us to legislate on than this bipartisan Energy bill which was ably led by the chair of the energy committee, the Senator from Alaska, Senator Murkowski, and our colleague, the Senator from Washington.

In my State and no doubt in other States, we have seen how important the energy sector can be to jobs. Texas is suffering a little bit, as are places such as North Dakota, Alaska, and other big energy States, because the price of oil is so low. Actually, it is good for consumers because gasoline prices are cheaper than they have been in a long time. We have been able to see how smart energy policies can have a positive influence on jobs and stronger economic growth not just in Texas but across the country. So taking advantage of our natural resources and diversifying our energy supply when we can is a win-win situation.

This legislation, the Energy Policy Modernization Act, will update our energy policies for the 21st century. I can't tell you how many times I have heard people say: Well, we don't have a national energy policy. Unfortunately, that is true, but this Energy Policy Modernization Act will go a long way toward developing sound energy policy that will help us produce more energy, help us use the energy we produce more efficiently, and it will allow consumers and businesses to save money.

This bill modernizes the U.S. electric grid--the infrastructure that provides us with electricity--which, of course, we don't think about too often until we have a brownout or a blackout as a result of some incident. It is very important that our electric grid be reliable and more economical in the long run.

This bill also seeks to diversify our energy supply, including promoting research on renewable energy options while updating our policies on mineral extraction as well. I think this legislation promises to allow us to continue to be productive now in this new year, 2016.

I wish to add one other word about the Senator from Alaska, Ms. Murkowski, the chair of this important committee. Thanks to her leadership, Congress was able to pass legislation to finally lift the export ban on crude oil--a ban that had been in place for 40 years. Really, that change was the most contentious part of this energy policy. I think she has wisely separated those two issues and left the Energy Policy Modernization Act as one that does enjoy broad bipartisan support.

We also need to continue to expedite our exporting of liquefied natural gas, which this bill does. It will help us to get more of our energy to international markets and will provide domestic suppliers a more reliable timeline for building the infrastructure--which is not cheap--to allow us to export more of our domestic resources.

This has really been the story of our energy resources here in America, where we have constantly underestimated the impact of technology and innovation when it comes to energy. Just a few years ago, we used to talk about something called peak oil, as if all the oil had been discovered and there wasn't any more there. Thanks to the innovative use of horizontal drilling, together with fracking, which had been around for 70 years or more, people realized that America holds the promise of being the next energy exporter in the not too distant future.

I have heard the senior Senator from Arizona, the chair of the Armed Services Committee, make this point, which I enthusiastically agree with: Our energy resources here in America are a natural security asset. What we see around the world, particularly in Europe, is that people like Vladimir Putin use energy as a weapon. Our willingness and ability to export energy will not only create jobs in America, but it will help grow our economy by making sure our small businesses have access to reasonably priced energy, and it will also help strengthen our friends and allies around the world.

I look forward to discussing the bill. I hope we can move on some of the amendments that have been brought up on both sides of the aisle and in so doing continue to strengthen America's hand as an energy powerhouse in the 21st century.

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