Today, our nation is entirely too dependent on foreign countries like Saudi Arabia and Iraq to supply our domestic oil needs. In 1970, the U.S. reached its peak for domestic oil production, producing 11 million barrels a day. Last year, the U.S. only produced 5 million barrels of oil per day, yet we were consuming oil at a rate of nearly 20 million barrels per day!

Depending on foreign countries to supply the majority of our energy needs jeopardizes our national security, and as we are experiencing with high gas prices today, stifles our overall economy. The Energy Policy Act of 2005 will effectively reduce our dependence on foreign countries for our oil needs by offering incentives that encourage American refineries to produce more gasoline and oil by-products. This bill also directs the Strategic Petroleum Reserve to be filled to its maximum capacity of one billion barrels. 

Oil is not a renewable fuel, and at the increasing rate our world is consuming oil, it won’t be long until our oil reserves are dry. That is why it is imperative that we start reducing our rate of oil consumption today by providing incentives that encourage businesses and consumers to use renewable, alternative energy sources. The Energy Policy Act of 2005 does just that by promoting the usage of clean coal technology and renewable energies such as biomass, wind, solar and hydroelectricity. The bill also encourages the usage of vehicles powered by hydrogen fuel cells, and authorizes $200 million for a program that will provide grants to state and local governments to acquire alternative-fueled vehicles. 

The bottom line is, we must reduce our dependence on foreign oil, and develop a long-term energy policy that increases our energy independence. While the Energy Policy Act of 2005 isn’t perfect, it goes along way toward promoting sensible energy measures – measures that are critical to the future of our country and our world. As a Member of the  House Energy and Commerce Committee, I was able to play a major role in framing this important legislation. I look forward to continuing to work with my colleagues to develop energy policies that address the changing and ever-growing demands of our domestic energy needs.