Putting the Gulf of Mexico Back to Work

Floor Speech

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Mr. CASSIDY. Rarely are the goals of our country as aligned as they are now. Clearly we need economic recovery with good jobs and with good benefits for those who frankly right now have a problem with unemployment. As it turns out, we also have the goal of increasing our energy security and, lastly, a goal of protecting our environment. Now, let's just go through these in order.

As regards jobs, let's just talk about the oil and gas industry. The President, the administration's estimates of the economic impact of the moratorium and the permitorium are hundreds of thousands of jobs lost and about $2.5 billion in lost economic activity.

This is not just the gulf coast and it is not just the oil rig workers. It is also those who work on pipelines. It is boat builders. Indeed, as it turns out, one of the boat builders in Louisiana is the largest customer worldwide of Caterpillar engines. An engine that is built in the State of Illinois using steel from the Midwest is used on the coast of Louisiana to build boats to service those rigs. Needless to say, those Caterpillar engines are not now being ordered. That steel order going to Caterpillar to build these is not being done. So the jobs that ripple out are not just in the gulf coast, but go all the way across the country.

We also have a goal to increase our energy security. Prior to Macondo, one-third of the domestically produced oil in the United States came from the Outer Continental Shelf. Since we have limited further exploration, we have lost that potential to increase our domestic supply of energy, to increase our security, to insulate us, if you will, from those issues in North Africa which are currently driving up our fuel prices.

Lastly, we have a goal to protect our environment. Oh, we all care about that. In Louisiana, we particularly care about that. We do not take this for granted. But in Louisiana, we realize you have to be both pro-business as well as pro-environment, and we take that very seriously.

So what are the facts on this? The President right after the Macondo bill appointed a blue ribbon commission from the National Academy of Engineering. These engineers that the President picked said that the causes of the oil spill are identifiable and correctable and that a prolonged moratorium will not, will not, will not appreciably improve safety.

The Acting CHAIR. The time of the gentleman has expired.

Mr. LAMBORN. I yield the gentleman an additional 30 seconds.

Mr. CASSIDY. So what we have seen since, though, is not a recommendation that the President's blue ribbon commission is right, but rather a regulatory hurdle set upon regulatory hurdle set upon regulatory hurdle. Now we have a notice to lessees which demands that which this amendment also demands, so we are going to have not just a notice to lessees, but we are going to have this amendment on top of it. At some point your hostility to an industry becomes hostility to workers, becomes hostility to our energy security and, frankly, becomes a hostility to our environment.

I oppose this amendment. I think it is bad for our workers, I think it is bad for our economy, and I think it is bad for our environment.

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