America needs affordable energy; House Bill gives Missouri Producers a central role

by U.S. Congressman Sam Graves

U.S. Congressman Sam Graves helped push through critical energy legislation this week as the House of Representatives worked to create a national energy policy. The goal of the energy policy is to provide a more affordable supply of energy and reduce the country’s dependence on foreign supplies. According to the Energy Information Administration, the U.S. now gets 62% of its oil from foreign sources and that number is expected to rise to 75% by 2010.

“Gas prices are at record highs and it’s the consumers who are being squeezed at the pump,” said Graves. “We need to get this bill passed quickly; depending on foreign sources of oil is both dangerous and expensive.”

The House passed the Energy Policy Act of 2005 on a bi-partisan 249-183 vote. The bill provides tax incentives for cleaner fuels while helping developing power from wind, hydro, biomass and fuel cells. Graves praised the bill.

“This bill is a triple hit,” said Graves. “It’s good for consumers because it will provide them with reliable and affordable energy. It’s good for our environment because it invests in cleaner fuels like ethanol. And it’s good for farmers because it will create more jobs.”

The bill would add an additional five billion gallons per year of ethanol and other renewable fuels to U.S gasoline supplies by 2015. The Renewable Fuels Association reports that Missouri has the capacity to provide 100 million gallons of ethanol a year. Ethanol is a cleaner burning fuel than gasoline and one of its primary ingredients, corn, is grown on farms right here in Missouri.

“With these ethanol provisions, Missouri will now play a central role in making America more energy independent,” Graves said. “This bill can make us less susceptible to price gouging from overseas oil cartels. I would rather get my energy from Missouri than Saudi Arabia.”

While the House measure embraces both conservation and alternative fuels, it also would open the Arctic National Wildlife Refuge (ANWR) for energy exploring. An Energy Information Administration study concluded that at peak production ANWR would provide 1.5 billion barrels per day for 30 years, increasing domestic production 20% by 2025.

“This problem will not be solved by conservation alone; we must change our policy,” said Graves. “We need to increase domestic energy production to meet the demands of the American people.”