Issue Position: Energy

Issue Position

On August 8, 2005, a long-overdue comprehensive energy policy was signed into law. This bill established a new renewable fuels standard (RFS) that requires the annual use of 7.5 billion gallons of ethanol and biodiesel by 2012. This provision will improve our environment, bolster our rural economy, and decrease America's dependence on foreign sources of oil. It is estimated that this bill will generate $5.3 billion in new investments and create 230,000 new jobs in rural America. With the passage of a comprehensive energy bill, which includes a much needed RFS, Congress has made ethanol a cornerstone of America's energy policy. Although the comprehensive energy bill is a good first step, high fuel costs continue to have a direct impact on families, farmers, and small business owners across South Dakota. It is critical that Congress act to lower the cost of gasoline for all Americans. As part of the solution to lowering gas prices, I support increasing the use and availability of E-85, increasing our domestic refining capacity, and opening a small portion of the Arctic National Wildlife Refuge for environmentally responsible oil and gas exploration. Further, our government needs to continue to attack this problem on all fronts and should ensure that no country or entity unduly benefits from the recent increase in gas prices. If, in fact, the oil companies have profiteered at the expense of hard-working consumers in this country, they should be prosecuted to the full letter of the law.

On August 8, 2005, a long-overdue comprehensive energy policy was signed into law. This bill established a new renewable fuels standard (RFS) that requires the annual use of 7.5 billion gallons of ethanol and biodiesel by 2012. This provision will improve our environment, bolster our rural economy, and decrease America's dependence on foreign sources of oil. It is estimated that this bill will generate $5.3 billion in new investments and create 230,000 new jobs in rural America. With the passage of a comprehensive energy bill, which includes a much needed RFS, Congress has made ethanol a cornerstone of America's energy policy.

Although the comprehensive energy bill is a good first step, high fuel costs continue to have a direct impact on families, farmers, and small business owners across South Dakota. It is critical that Congress act to lower the cost of gasoline for all Americans. As part of the solution to lowering gas prices, I support increasing the use and availability of E-85, increasing our domestic refining capacity, and opening a small portion of the Arctic National Wildlife Refuge for environmentally responsible oil and gas exploration. Further, our government needs to continue to attack this problem on all fronts and should ensure that no country or entity unduly benefits from the recent increase in gas prices. If, in fact, the oil companies have profiteered at the expense of hard-working consumers in this country, they should be prosecuted to the full letter of the law.

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