-- Randy’s Roundup --

A Weekly Newsletter from Congressman Randy Neugebauer

July 14, 2008


President Bush Lifts Executive Ban On Offshore Drilling

Today, President Bush lifted the executive ban on offshore drilling that has been in place for 18 years. This is a tremendous step forward in tapping into America’s abundant natural resources, in an environmentally friendly way, to help ease prices at the pump, while also working toward securing America’s energy independence.

While this is a success for the American people, now Congress must also act to remove the moratorium placed on offshore drilling. While this is a positive step, if Congress does not remove the ban, President Bush’s efforts will not fix the current situation. That is why it is crucial that Congress listens to the voice of Americans asking for relief from record high energy prices.
 
As I have said, our energy policy should be “YES” to exploring every option available to achieve energy independence. This includes the production of traditional fossil fuels, building additional refineries, investing in new nuclear power plants, using our 250 year supply of coal, as well as putting the same amount of emphasis on renewable and alternative energy sources.

I am pleased that President Bush has lifted this ban, and I will continue to urge my colleagues on the other side of the aisle to remove the Congressional moratorium as well.

Neugebauer Supports USDA Efforts To Overturn CRP Ruling

I was extremely discouraged last week when a United States District Judge from Seattle put a Temporary Restraining Order (TRO) on a very valuable livestock feeding program that was made available to agriculture producers with land enrolled in the Conservation Reserve Program (CRP).  I sent a letter to Secretary of Agriculture Edward Schafer expressing my support for USDA’s efforts to overturn the judge’s ruling.

The Critical Feed Use voluntary program, which was announced on May 27, 2008, allowed farmers and ranchers to modify their CRP contracts to either hay or graze portions of land enrolled in CRP.

The approved producers have been making production decisions, investing in fencing and watering equipment and preparing their operations for this program, which was based on a good-faith contract. The Critical Feed Use program has already provided relief to many Texas producers facing high energy and production costs.

The TRO, if not overturned, will severely disrupt the production of livestock across Texas. Many producers will be faced with the decision of selling their livestock because they cannot bear the financial burden of feed costs or because they do not have any other land to use to feed their livestock. 

Monitoring The Financial Markets

Last week I participated in several hearings regarding the state of the financial markets. One of the roles of the Agriculture Committee, on which I sit, is to monitor the Commodities Futures Trading Commission (CFTC). I am a strong advocate for an open and fair marketplace and have always believed that the marketplace is efficient, although it is not always kind.

The government’s role is to ensure that the commodity and securities markets are functioning in an open and transparent manner and operating with integrity that allows for appropriate price discovery.

It is not the role of the government to influence market prices. As the Agriculture Committee continues to monitor the role of speculators and the rising costs of commodities, we must be cautious not to overreact and restrain from adding additional, burdensome government regulations.

Additionally, in the Financial Services Committee last week, we heard from Secretary of the Treasury Henry Paulson and Federal Reserve Chairman Ben Bernanke regarding proposals for updating regulation of financial markets.  While there is considerable uncertainly in the financial markets, policymakers must not overreach and over-regulate.  Above all, we must not create a situation in which taxpayers are held responsible for poor decision making through a government bailout.

I look forward to again having the Federal Reserve Chairman in our Committee this week to further discuss economic policy challenges facing our country and the appropriate federal government response.

Dyess AFB Welcomes A New Wing Commander

I would like to welcome Colonel Gass back to the city of Abilene and Dyess AFB. Having served at Dyess before, he is returning to a wonderful community and will be commanding America’s finest airmen at Dyess. It is a tremendous honor and responsibility to command a military base, and I am confident that Colonel Gass, with his outstanding record, will be an invaluable asset to Dyess AFB and the missions with which they are tasked.

Although the time has come for Colonel Ray to move to his next assignment, his leadership will undoubtedly be missed. Colonel Ray has left Dyess AFB a better place than when he initially assumed command here, with a dedication to making Dyess the premier Air Force base in America.

I look forward to working with Colonel Gass to meet the challenges of maintaining Dyess AFB as a top rate facility and military asset. I would also like to extend a sincere thank you for all that Colonel Ray has done while in command of Dyess. He is an extraordinary airman, and I wish him and his family the best in their future endeavors.

As always, when events unfold in Washington, I will be sure to update you. In the meantime, do not hesitate to visit my website, or call my office toll free district wide at (888) 763-1611 or my Washington, DC office at 202-225-4005.