Representative Cole of Oklahoma submitted a letter to Congress for the support of HR 5429. Representative Cole lists numerous points in support for the sensible opening of 10-02 Area of ANWR. Representative Cole will join a majority of Representatives today in support of the bill.
Open ANWR: Vote YES on H.R. 5429, The American-Made Energy and Good Jobs Act
May 24, 2006
We have an opportunity to pass legislation that would reduce our dependence on foreign sources of energy, lower gas prices for consumers, create high paying jobs, while reducing our trade and budget deficits.
H.R. 5429, authored by Chairman Pombo, will do all of these things. Specifically, the American-Made Energy and Good Jobs Act will:
• Reduce our reliance on foreign sources of energy. As we work to reduce reliance on foreign sources of oil, we need to be open to any approach that will help. We should, for example, promote renewable sources of energy. But just as it is doubtless true that this is part of solving our energy problems, it cannot be suggested that this alone solves the problem. Solar and wind power are currently .19 percent of total energy supply. We also ought to be, and are, making investments in technologies that hold promise in the future. But in the meantime, we have an untapped source of energy that can be part of the solution right now.
The mean estimate of recoverable oil from ANWR is 10.4 billion barrels, all of which would only be available for domestic consumption. By comparison, that is more than all the proven reserves in Texas.
• Create new high paying jobs. More than 250,000 jobs by some estimates. Instead of outsourcing these jobs overseas, we can keep those high paying jobs right here while reducing the trade deficit.
• Reduce the budget deficit. We are faced with many difficult choices in trying to address the nation's long-term budget outlook. ANWR is an option that makes a modest, but real, improvement to our budget situation without increasing anyone's taxes or reducing spending to any vital program. Specifically, ANWR would improve the budget outlook by $111 billion or more over 30 years based on current prices.
Opponents of H.R. 5429 have well-intentioned concerns regarding the environment. On this general point much has been said. But it is worth noting one environmental consequence of H.R. 5429: it will increase energy production in the United States, where we do an outstanding job meeting strict environmental standards, instead of outsourcing this production overseas - where weaker environmental regulations prevail.
I hope you will join me in voting in favor of this important legislation, which is an important step toward a better energy policy for America.
Member of Congress