Last week I spent a few hours at a gas station in Greeley pumping gas for customers and listening to their concerns about the ever rising cost of gasoline. I shook my head at the rising numbers on the pump; it was just another reminder that Washington is broken and that Colorado families and small businesses are paying the price.
I am working with other members of Congress on a comprehensive energy plan to slow rising gas prices in the short term, while transitioning our energy use from fossil fuels to renewable forms of energy in the long term. Congress must support commonsense ideas such as greater domestic exploration, regulatory relief to increase refining capacity, and more investment in alternative fuel technology.
One element of a comprehensive energy plan Congress must explore is developing the oil resources that are readily available just off our coasts. Some experts estimate that investment in offshore exploration could yield up to 112 billion barrels of oil, enough to power our manufacturing, heating and transportation needs for years to come.
Unfortunately, more than 85% of the coastal waters in the continental United States, extending up to 200 miles offshore, are off limits to exploration. Even in the area where exploration is permitted, 75% of the lands have severe regulatory restrictions.
It’s time for members Congress in both parties to put aside partisan posturing and come up with real solutions that protect the environment but allows for domestic exploration. The ability to meet our own energy needs will help protect us from the whims of foreign dictators and corrupt cartels that don’t have the best interests of American consumers in mind.
A comprehensive energy plan must also include a way to upgrade our energy infrastructure and increase refining capacity. While refinery capacity has been increased by more than 20% since 1985, a new oil refinery has not been built since 1976! This lack of investment in energy infrastructure makes us vulnerable to natural disasters; note the rise in gas prices after Hurricane Katrina or other supply chain problems.
According to the U.S. Energy Information Administration, if current domestic refinery expansion plans were allowed, domestic refining capacity would increase by about 800,000 barrels per day, the equivalent of four new refineries, by 2010.
While these additional refineries are desperately needed, they are being held up by excessive red tape. Congress needs to fast-track these expansions plans and examine ways to deliver increased supplies of cheaper gas to ease the burden on Colorado families as soon as possible.
While tapping our abundant domestic resources and increasing refining capacity are excellent short and mid-term solutions, only the development of safe and reliable alternative fuels, along with a fresh perspective on existing resources such as wind, nuclear and solar energy, will serve as a permanent long-term solution to this problem.
I’ve long advocated for Colorado to lead the way in this pursuit and I was proud to help craft a Farm Bill that provided significant incentives for alternative energy investment.
Additionally, the government should provide research and development tax credits to ease the burden on entrepreneurs that have taken the challenge of developing next generation fuels.
Colorado should encourage emerging technologies like cellulosic ethanol, which allow our farmers and ranchers to use agricultural waste like corn silks for energy. Congress should form an “Apollo” type program for alternative energy, making a bi-partisan, unparalleled commitment to developing the next generation of fuel.
I support a comprehensive energy plan because it boosts all forms of energy and reduces our dependence on foreign oil, while encouraging investment in the economy, modernizing our energy infrastructure and developing our own resources here at home.
I’m committed to delivering solutions that will continue to ease the burden of high gas prices that hit working families the hardest. Washington is broken and I will continue fighting through political rhetoric and excuses to deliver real, commonsense solutions for you and your family.
EDITOR’S NOTE: This is an online-only column and has not been edited.
