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Congressman Boozman with Fort Smith Citizens Academy graduate Linsey Yates of Ramona Roberts Realty and Deputy City Administrator Ray Gosack View Photo
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Gas Prices and Energy Policy

Around the world, gas prices have escalated due to increased worldwide consumption, unstable regimes, burdensome regulations and natural disasters. All of these factors have pushed the oil market to the limit. High energy prices reflect short supplies and the strong demand of a growing economy. Massive government interference in the market is not the answer to this problem, but government can help reduce the problem by 1) encouraging an increase in energy supplies, 2) promoting new technology and innovation, and 3) encouraging conservation and fuel efficiency. All Arkansans, especially low and middle-income families, are counting on government to do what it can to reduce the burden of high energy costs.

INCREASING AMERICA'S DOMESTIC SOURCES OF ENERGY

America must increase our production of home-made energy if we are going to reduce our dependence on foreign oil and bring down the cost of gas. On October 1, 2008, the congressional moratorium on drilling in the off-shore continental shelf was allowed to expire. For the first time many years, significant sections of previously off-limits oil reserves will now be available for research and exploration. States need the flexibility and authority to allow safe production of energy resources off their coasts, such as natural gas. Even as hurricanes roared through the Gulf of Mexico last year, we saw that modern technology allows offshore energy production to be carried out safely and effectively. If we don’t utilize this energy resource, we will only increase our reliance on foreign oil that will be imported on tankers through our coastal waters.

I also believe we should open up the ANWR area in Alaska for research and development. Because of my concern for this issue, I have visited ANWR, seen the area first-hand and spoken with local Alaskans. Energy exploration and production in ANWR would take place on just 2,000 acres of its 1.5 million acre northern coastal plain, an area proportional to the space a single letter occupies on the front page of The New York Times. ANWR is roughly the size of the state of South Carolina, but the footprint of oil and gas development would occupy a space equivalent only to the size of the Charleston, South Carolina airport. The primary areas of ANWR that function as a wildlife reserve are further south, in the central and southern regions of ANWR. American ingenuity and advanced technology would allow us to safely produce 900,000 barrels of oil per day for the next 30 years. Responsible use of ANWR’s oil and gas resources would expand the world’s oil supply and reduce its price, save $14 billion per year in oil imports, create thousands of American jobs, and enhance federal revenues by billions of dollars. Finally, it would allow us to obtain this resource here at home, rather than importing it from less stable regions, such as the Middle East or Venezuela.

A COMPREHENSIVE APPROACH

The United States desperately needs to adopt a comprehensive energy policy to address our current and future needs. It is undisputable that we must develop alternative energy sources for the long-run, but for the short time, we must rely on fossil-fuels as we have an oil-based economy. I am an original co-sponsor of H.R. 6566, the “American Energy Act.” Not only would H.R. 6566 allow for exploration of our own resources, it encourages the building of more refineries to process the fuel. Most importantly, the “American Energy Act” would expand our nuclear and hydropower resources, encourage more energy efficient vehicles and permanently extend the tax credit for wind, solar and hydrogen energy production. I am proud to support the “American Energy Act,” a true comprehensive approach to a multi-faceted issue.

Congressional Research Service Reports:

The Congressional Research Service (CRS) is part of the legislative branch of the federal government. CRS, which is a department of the Library of Congress, works exclusively as a nonpartisan analytical, research, and reference arm for Congress.

CRS Reports are in PDF format. In order to view these files, you will need the Adobe Acrobat Reader installed on your PC. You can download the free reader from Adobe's website. These files may be rather large and may take a few minutes to download.

Gasoline Prices: New Legislation and Proposals

Arctic National Wildlife Refuge (ANWR): Legislative Actions Through the 109th Congress, First Session

Energy: Useful Facts and Numbers

Energy Policy Act of 2005: Summary and Analysis of Enacted Provisions

Alternative Fuels and Advanced Technology Vehicles: Issues in Congress