Congressman Doug Lamborn (CO-05) today told C-SPAN viewers that more domestic energy production is the long term key to lowering energy costs in America.

Lamborn, who chairs the House subcommittee on Energy and Mineral Resources, was the featured guest this morning on C-SPAN’s Washington Journal. Lamborn discussed the recent spike in gasoline prices with host Peter Slen and took questions from viewers.

Below are highlights of the Congressman’s comments.

 

Role of federal government in energy prices

The federal government has a big role to play, but it cannot regulate prices day in and day out. We cannot change prices overnight with a silver bullet. But we can have policies, that if they were put in place and we were to access American energy or even access Canadian energy through the Keystone Pipeline, we would have a supply of energy that would allow for lower prices over time.

Impact of Obama Administration energy policies

We are seeing the results or fruits of poor policies over the last several years. When Barack Obama came into office, gasoline prices were about $1.85 across the country, now it is exactly twice that.  It has doubled in three years and we have policies in place that actually make it harder to access American energy.

Over time, under this administration the trend is downward, we have fewer on-shore leases and fewer off-shore acres available for leasing. And unfortunately, that catches up to us, and that is a big reason prices have doubled. We can’t determine what happens overseas, like if there are tensions in Iran and the Strait of Hormuz, no one can really affect that, but we can do a lot more with our own energy, and we’re not doing it.

Impact of Previous Administration Policies

I applaud former President Bill Clinton.  When he was in office, he opened up a lot of the Gulf of Mexico. What good production we are seeing in the Gulf today goes back to Bill Clinton and the early years of George Bush because those major projects in the Gulf water take 5 to 10 years to come on line. So you have to go back to previous administrations when you something good happening like that. Unfortunately the president is taking credit for that and it is due to the acts of his predecessors, and it is disingenuous.

Law of Supply and Demand on energy prices

Greater supply means lower prices. Congress has made some bad decisions over the years, but it has never been able to repeal the law of supply and demand.

Role of alternative energies

Let’s work on alternatives, and where they are commercially viable, let them come forward. But in the meantime, why throw away available sources of conventional fuels when they are available to us?

Tapping the Strategic Petroleum Reserve

We should only open up the Strategic Petroleum Reserve for disruptions in supply. We should not open it up to manipulate prices. If we do start manipulating prices, every time there is a spike in prices, then we’re not going to have it when we really need it, when there is a disruption. That supply should be there for emergencies.

Hydraulic fracturing

I think regulations to protect the environment are important. And we do have good regulations already in place.

When it comes to hydraulic fracking underground, the states are doing a very good job of regulating that.

I would rather have the various states who know their own geology and water better than Washington does to stay in control of fracking and not impose a federal layer of regulation on top of what the states are already doing a good job of.

Corporate taxes on oil and gas companies

They pay a lot more in taxes than they make in profits. The big winner when it comes to oil and gas is the government, when you get consider state and local governments, they get tons of tax dollars already. And I don’t think they are getting any tax treatments that others aren’t getting. Some people say, lets single them out, and give them especially strict treatment. I am not sure that is the American way to single people out and make it hard for them. I think everyone should be treated equally and if they are getting a manufacturers tax break that all manufacturers get, I think we should leave it for everybody and let there be a level playing field.

To view the C-SPAN interview in its entirety, click here.

To view a breakdown of H.R. 3408  the PIONEERS Act, Congressman Lamborn’s recently-passed energy bill, click here.

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