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Mr. President, I thank the esteemed Senator from Wyoming for leading this colloquy.
Our effort here is to address in real terms the problem--the legislation we have on the floor right now is the unemployment insurance bill--to truly address the problem, which is getting people back to work, rather than additional government payments added onto the payments already made.
What we are trying to do is make sure there are jobs to get people back to work. Energy is an incredible opportunity to do just that. So when we talk about this energy legislation, it is about producing more energy for our country. But it is about jobs, it is about economic growth, and it is about national security. So I commend the esteemed Senator from Wyoming for leading the charge on legislation which would allow us to export liquefied natural gas.
We currently consume in the United States on an annual basis about 26 trillion cubic feet of natural gas a year, but we produce 30 trillion cubic feet of natural gas a year. So we are already in a situation where we are producing more than we consume. We import some from Canada, and we are growing in terms of our domestic production in States such as Wyoming, my home State, and others. Across the country with the shale gas development, we are producing more and more natural gas. We need a market for that natural gas, and Europe very much needs natural gas so they are not dependent on Russia for their energy. So we are talking about an opportunity here at home to actually create more economic activity and put people back to work. That is the real solution. It doesn't cost the government one penny. Instead, we get revenue--not from higher taxes, but from a growing economy and people going back to work.
When we look at this legislation, we have taken legislation led by the Senator from Wyoming and we have tied it together with Keystone legislation I have submitted. We call it the Energy Security Act, and it does those two things--it approves the Keystone XL Pipeline, a $5.3 billion investment by private companies in our economy. By the Obama administration's own estimate, their State Department has said it will create more than 40,000 jobs in the construction phase. We tie that with legislation which has been put forward by the Senator from Wyoming, which I am extremely pleased to cosponsor. We put those two together, LNG exports with Keystone. We call it the Energy Security Act. We have submitted it and we have filed it as amendment No. 2891.
I therefore ask unanimous consent that it be in order for me to offer my amendment No. 2891.
The PRESIDING OFFICER. Is there objection?
Mr. REED. Mr. President, reserving my right to object, once again, the underlying legislation is designed to help 2.7 million Americans who need the support. It is a bipartisan agreement. There is a time and place to debate all these issues, but I think the time and place now is to move forward and vote on the underlying agreement.
Therefore, I respectfully object.
The PRESIDING OFFICER. Objection is heard.
Mr. HOEVEN. With due deference to the good Senator, I understand his desire to make sure people who are unemployed receive assistance. I think he truly is a champion in that effort. I appreciate the opportunity to work with him in a bipartisan way. But I would submit this very legislation absolutely complements what he is trying to do, and does it in a number of ways, first, in terms of a permanent, real, long-term solution--meaning getting those people back to work, but, second, in terms of paying for it, in terms of actually paying for the cost of unemployment insurance, these provisions--this amendment and the other amendment we are offering--will actually help create revenue to do what the Senator is trying to do.
For that reason, I think it is absolutely complementary to the legislation at hand and will in fact add bipartisan support to passage of that legislation.
I will cite one more extremely compelling study which relates to this point before I turn back to the Senator from Wyoming.
The U.S. Chamber of Commerce in 2011 commissioned a study. They had experts do an evaluation of energy projects awaiting approval to proceed from the administration--awaiting permits or other requirements so they could proceed with these energy projects.
What I am talking about are energy projects that total billions, even hundreds of billions, of dollars where private companies are willing to invest their money and develop energy resources across this great country.
The U.S. Chamber of Commerce study I cite was performed in 2011. It came back and said there are more than 350 energy projects, both renewable type energy and traditional energy, that are stalled because of bureaucratic redtape on the part of the Federal Government at a cost of $1.1 trillion to the American economy and nearly 2 million jobs for the American people. Think about that, 2 million jobs for the American people, when what we are talking about here today is the unemployed.
What we are talking about here today is putting people back to work.
I will cite from that study:
In aggregate, planning and construction of the subject projects (the "investment phase'') would generate $577 billion in direct investment, calculated in current dollars. The indirect and induced effects (what we term multiplier effects) would generate an approximate $1.1 trillion increase in U.S. Gross Domestic Product (GDP) including $352 billion in employment earnings, based on present discounted value (PDV) over an average construction period of seven years. Furthermore, we estimate that as many as 1.9 million jobs would be required during each year of construction.
Good-paying construction jobs. The Keystone XL Pipeline is just one of those more than 350 projects, and it alone is an investment of $5.3 billion. It alone, according to the State Department's own estimates, will create more than 40,000 jobs.
What are we trying to do here? I thought it was to put people back to work, trying to make sure they have an opportunity--in States such as Ohio. Of course, in my State we have an energy boom. We are trying to get people. We have more jobs than people because we have unleashed this investment in energy. We have done that in our State. Why not do it across the country? Why not do it across the country? There is no question we can.
We have offered other amendments as well. The other point I want to make is they are bipartisan amendments. They are amendments that don't cost the Federal Government any money but create incredible investment and incredible opportunity for our people, and they are bipartisan.
One of the amendments put forward by the Senator from Missouri passed through the House with 1 dissenting vote. I don't know if the 1 dissenting vote was Republican or Democrat, but I don't know how you get any more bipartisan than that, because they were one short of unanimous. So that is what we are talking about here.
I know negotiations and discussions are going on as to votes we may get on the legislation we are offering as part of this unemployment insurance bill. I ask the leadership on the majority side to allow us to vote on these amendments. We will accept the verdict of the Senate; all 100 get to vote, which is what we were sent here to do.
I will close with that. This isn't about either the Democratic side of the aisle or the Republican side of the aisle. This is about people who are unemployed and need an opportunity. We absolutely have the ability to give them that opportunity, so let's do it. Let's do it. That is what this debate is all about.
Again, I thank the distinguished Senator from Wyoming for leading the discussion. He has been an energy leader as well as a physician, so he certainly has been a leader on the health care issue too. But he has certainly been an energy leader, and his State is a leading energy-producing State.
As I said at the outset, and he has made the point so eloquently, this is an opportunity. Energy is an opportunity. It is jobs, it is economic growth, it is national security. Let's go. Let's get it done.
With that, I turn to my colleague from Wyoming and again thank him for his leadership of this important discussion.
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