WASHINGTON, March 19 -
Mr. Speaker, it seems the administration may open up the emergency strategic petroleum reserves under the economic theory that more supply will lower the price of oil and gasoline.
If the President's theory of supply is correct, then why not allow more oil shale leasing in the West? Why not say yes to more oil and gas lease sales in the Gulf of Mexico? Why not say yes to the Keystone pipeline? Why not remove the slow permitting processes?
If it wasn't for more oil production on nongovernment lands, the situation of supply would be even worse.
The administration wants to save us from the high cost of gasoline by increasing supply. I agree. So I've introduced legislation that would require the administration to do all of the above before it can tap into the SPR.
Let's increase our energy supply and give Americans some relief at the pump. We don't need a temporary fix in supply. We need a long-term energy supply solution.
And that's just the way it is.