Walberg Weekly Wrap-Up: "Increase American Energy Production, Reduce Gas Prices"

Press Release

The United States Department of Commerce recently announced the U.S. trade deficit increased by $4.1 billion between February 2007 and February 2008.

Why is our country facing a rising trade deficit even though American-made exports grew by 12 percent in 2007? The number one reason for the growing trade deficit is our dependence on foreign energy, and this is why we need to provide incentives to increase America's investment in alternative energy and overall production of energy.

The United States imports around 12 million barrels of oil a day, and a barrel of oil has gone from $70 to $120 over the last year, dramatically increasing our trade deficit. Our reliance on imported oil and increased oil prices means we are sending even more money to foreign countries, many of whom do not share our interests.

For both economic and national security purposes, Congress needs to finally get serious about an energy plan that truly lowers prices at the pump, reduces our dependence on foreign oil and makes real progress towards energy independence. Instead of increasing our dependence on OPEC, America needs to return energy production to the United States. Doing so will create American jobs and provide needed economic stability.

The answer to our current energy crisis must be multi-pronged. I have co-sponsored legislation to provide incentives for solar, wind, cellulosic ethanol, bio-diesel and other green alternatives. We must increase domestic energy production through carbon-free nuclear power and clean-coal technology. I am also co-sponsoring legislation that would encourage conservation with tax credits for green buildings and legislation that would spark a revolution in clean hydrogen technology.

While some in Congress want to rely more on OPEC for America's energy needs, I firmly believe we must increase American energy production. Recently, I co-sponsored H.R. 3089, the No More Excuses Energy Act.

This appropriately named legislation would impact the price at the pump and lower our electric bills. It would encourage the construction of new refineries, boost alternative energy development by extending the Wind Production Tax Credit for 10 years, increase American oil production by allowing environmentally sound drilling in Alaska, the Outer-Continental Shelf and the Gulf of Mexico and help increase our supply of electricity by encouraging the construction of new nuclear power plants.

Rather than increase taxes on domestic energy production as some in Congress have proposed, I am working to pass sound legislation that will bring down the price of gas and reduce our dependence on Middle East oil. Legislation like the No More Excuses Energy Act would increase the supply of American energy and increase the number of good paying jobs in this country.

Policies such as a twenty-three year moratorium on exploring and developing off-shore production of clean and green natural gas need to be lifted to lower prices and reduce our dependence on foreign gas. Natural gas provides twenty-three percent of our nation's energy, yet America is the only developed nation that prohibits off-shore production and exploration of this clean burning resource, and Americans are paying higher electricity and heating prices because of this.

Like all of you, I am tired of paying these high gas prices and I know high prices are affecting all of us - families, truckers, farmers, small business owners, emergency services. This is unacceptable to me and the good people of south-central Michigan who depend on gasoline or diesel to get to work, drive their kids to baseball practice and visit family members.

I will continue to fight on your behalf to increase energy production in the United States and lower the price we all pay at the pump.

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