Offshore Exploration Versus Leases

OFFSHORE EXPLORATION VERSUS LEASES -- (House of Representatives - July 17, 2008)

(Mr. SMITH of Nebraska asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. SMITH of Nebraska. Mr. Speaker, earlier this week I'm glad that President Bush turned up the heat on Congress when he lifted an executive order barring offshore energy exploration off almost 90 percent of U.S. coastlines.

Mr. Speaker, I have to say that raising the decibel level of the debate in this Chamber does not solve the problem. A good, comprehensive, broad-based energy supply is what solves the problem. Instead of acting to help consumers with high gas prices, Congress still has not taken up legislation which will actually help fight rising gas prices even as the price at the pump rockets past $4.11 a gallon. Instead, we hear the other side of the aisle about use-it-or-lose-it current policy, that oil companies are sitting on 68 million acres, or maybe even more, of land which could be used for energy exploration.

We need to ask ourselves the question then, Why would anyone in the private sector want to engage in even greater expenses then in acquiring more petroleum resources for the American people?

But even a Democratic colleague of mine said, ``You can't produce on every acre or even every 100 acres. I think those numbers come from people who don't understand the business.''

We can do better; we should do better, Mr. Speaker.

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