The United States is the third largest producer of Oil and is only surpassed in production by Russia and Saudi Arabia. However, we are also the worlds largest importer and consumer of petroleum.
That said, very little has changed in two years. I am still concerned about the growing risks of our over dependence on a finite energy source that exposes America's economy and national security to the passing impulses of overseas petroleum barons. Experts agree that the worlds supply of oil will peak. The question is when will it peak. Some argue that it already has while others believe that it will be at least 100 years before we reach peak oil.
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An objective look at the alternatives to Peak Oil points to the Nation's untapped oil shale and re-exploration of exiting oil fields as a strategically located, short-term source of reliable, affordable, and secure oil. The technology exists to extract this oil; however, until recently, it was not cost effective. Due to the rising price of oil, the financial dynamics are changing. The Energy Information Administration estimates the world supply of oil shale to be in excess of 2.9 trillion barrels, of which, over 1 trillion barrels are in the United States. I will call for legislation to promote further investigation into this alternative and the re-exploration of domestic oil fields. The re-exploration of exiting fields and the In-situ exploration and refining of oil shale can provide short time alternatives to foreign oil. However, we must avoid the mistaken belief that we can drill or battle our way out of our energy problem. Oil shale and re-exploration of exiting fields is at best, a stop gap measure and the opening up off shore oil fields for drilling is a risky venture that will take years to pay off. Only greater efficiency and diversification of our fuel choices, bio-diesel, cellulosic ethanol, solar, wind, hydroelectric, natural gas, coal, geothermal and nuclear will provide lasting economic security.
Legislation to encourage conservation and the use of alternative energy sources should not call for an increase in taxes as an incentive for people to alter their daily lives. Making Americans pay more for energy is not the answer. To encourage conservation, I support the use of excise and sales tax credits to assist with the the purchase of energy efficient appliances, the purchase or construction of energy efficient buildings and for conversion, of existing buildings, to alternative energy sources. I will call for or support legislation to expand the use of vehicles using alternative fuels by Federal agencies and further credits for consumers who purchase vehicles using alternative fuel sources, In partnership with private industry, we put a man on the moon in eight years; with the same resolve we can significantly reduce our dependence on fossil fuels. I am calling for legislation to establish a trust with industry to drive the research, development and deployment of alternative and renewable energy sources. The 6th district, in all its’ diversity, can lead the charge in energy research and development. I also support federal investment in local transportation projects to develop clean, safe and energy efficient public transportation systems. This investment, including the Purple line in Montgomery County among others, will open up access to our metropolitan areas from the suburbs and help reduce the number of vehicles on Maryland’s congested roads. Energy efficiency and self-reliance must be the centerpiece of our nation’s energy policy. ### |