I thank my colleague. Mr. Speaker, what our colleagues on the other side of the aisle have not told the American people is that if you look at the report from our own Department of Energy, they can see that drilling in the Arctic Wildlife Refuge won’t put one drop of new gas on the market for at least 10 years, and then it will only wind up having an insignificant impact on price 20 years from now. The American people don’t have 20 years to wait.
We need action, and this is an opportunity to provide that action by tapping into the Strategic Petroleum Reserve in a responsible way to help bring down price. After all, the Strategic Petroleum Reserve is the supply of oil we put away for America’s rainy day. There are over 700 million gallons of oil there, more than at any other time in American history. And when it comes to the hurt the American people are feeling economically, their rainy day is now.
This has been tapped into by the last three presidents, including the current president – and if we responsibly just put a little bit of this oil away we can provide relief at the pump today. Unfortunately, the President has resisted this call, just like he resisted the call to stop filling the Strategic Petroleum Reserve, which he finally relented in doing so. We need to pass this legislation.
This is not a long-term policy. We need to work together to make sure that on a long-term basis we tap the ingenuity of this country, our renewable energy, energy efficiency, and responsible drilling. But Americans are hurting now. This is not a so-called “mental recession,” as we heard from former Senator Phil Gramm. The pain is real, and we need to address it now.
You know, a few months ago I think we all saw a spectacle that made us shudder. We saw President Bush travel to Saudi Arabia to plead with their king to pump more oil. The Saudi king turned him down cold – “No, President Bush.” I don’t think we should have to go around begging other countries to pump more oil when we have a Strategic Petroleum Reserve of oil right here that’s been set aside for a rainy day. Our rainy day is now. Let’s pass this legislation.