American oil exported daily

Sen. Richard Durbin (D-Ill.) discussed energy prices and promoted an economy run by renewable energy sources at an event hosted by progressive think-tank NDN. Durbin said gas at $4 per gallon is killing the US economy and that gas prices are shipping $700 billion to foreign suppliers of oil. He said Republicans in Congress, in the last two months, have blocked 12 Democratic attempts to debate bills that would lower gas prices and create green jobs. He added that Republicans have used a record number of filibusters this session, frustrating Democrats and the American public.

Durbin said in the first four months of 2008, 1.6 million barrels of US oil were exported daily. He also stated that since the United States only has three percent of the world’s oil supply, OPEC could react to increased American supply by lowering their production in an effort to keep gas prices high. He added that 700 million barrels of oil in the Strategic Petroleum Reserve are ready for use and that 34 Senate Democrats sent a letter to President Bush asking him to release 10 percent of the reserve. Durbin suggested that a partial opening of the reserve would show the international community that the US is tired of inflated oil prices.

Durbin cited a report that says three million jobs can be created in the next decade if greater investments are made in green technology. He said following the Arab oil embargo in the early 1970s, oil imports from the Persian Gulf fell 87 percent and GDP grew 27 percent. He suggested that the United States can benefit once again by making energy security a priority. He added that increased energy security is a technology deal and that Republicans have opposed tax incentives that promote increased technology, energy conservation, and renewables.

The “Gang of 10” create a “New Era” to tackle soaring gas prices

Members of a bipartisan coalition of Senators known as the “Gang of 10” held a news conference to discuss their plan to reduce gas prices, lessen the nation’s dependence on foreign oil, and strengthen America’s economy. The “Gang of 10” is led by Senate Budget Chairman Kent Conrad (D-N.D.) and Sen. Saxby Chambliss (R-Ga.), and includes Sen. Mary Landrieu (D-La.), Sen. Lindsey Graham (R-S.C.), Sen. Blanche Lincoln (D-Ark.), Sen. Johny Isakson (R-Ga.), Sen. Ben Nelson (D-Neb.), Sen. John Thune (R-S.D.), Sen. Mark Pryor (D-Ark.), and Sen. Bob Corker (R-Tenn.).

All of the members of the “Gang of 10” said that the U.S. is facing a “critical challenge” because of skyrocketing energy costs and that this growing crisis undermines the budgets of families across the nation. They agreed that the issue is neither Republican or Democratic, but rather “an issue that affects us all.” Conrad explained that the “Gang of 10” is working together in a bipartisan manner to develop comprehensive energy legislation. He also explained that the New Energy Reform Act of 2008, better known as the New Era Bill, is an intensive effort to transition vehicles to non-petroleum based fuels by using “robust” federal commitment to conservation and energy efficiency. Conrad said that the bill addresses all aspects of the energy issue by aiming to convert vehicles to non-oil fuel sources, enhancing conservation, and creating responsible domestic energy production.

Chambliss said that the “Gang of 10” epitomizes what the Senate is all about. He said that they are making a true bipartisan effort to solve the two critical issues: supply and demand of oil and conservation. Landrieu said that the bill will do more to lower the price of gas at the pump than anything Congress has previously done. Isakson said that this is America’s second and last chance to solve the energy problem, and the security of the nation depends on this solution.

Thune explained that the group is focused on “going where the energy is.” He said that in 2007 1.7 billion gallons of ethanol were produced and 9 billion gallons are expected to be produced this year. Nelson said that the question “to drill or not to drill” is no longer that important because the U.S. needs to “do it all.” Corker said that the group recently sent a letter to Majority Leader Harry Reid (D-Nev.), Republican Leader Mitch McConnell (R-Ky.), Finance Chairman Max Baucus (D-Mont.), and Finance Ranking Member Chuck Grassley (R-Iowa) asking them for their cooperation in the effort and the bill. Pryor said that the U.S. is facing a very tough time where people can either “come together or be torn apart.” He explained that the “Gang of 10” decided to “come together and lead the way forward.”

Republicans, truckers ask Dems to "stop playing games"

Senate Republicans held a joint press conference with Americans from the trucking industry this afternoon to discuss increased energy costs and its effect on commodity prices. Barbara Windsor, President and CEO of HAHN Transportation said that her trucking company spends $1,400 per vehicle to fill it with Diesel gasoline, and currently spends 58 percent more on fuel than it did a year ago.

Tony Sifford, a professional truck driver said that despite the fuel conservation efforts that he employs, such as slowing down, keeping a constant speed and maintaining a tuned-up vehicle, he still pays over $1,100 more than he did a year ago to drive from Hillsville, Virginia to Dallas, Texas three times per week. Sifford called upon the Democrats to stop playing games and cross party lines to bring an energy solution to America.

Sen. Wayne Allard (R-CO) said that Americans in the West need a solution, as they tend to drive further distances than others in the nation. As such, he said that he favors searching for oil everywhere we possibly can and not remove options from the table, especially because no renewable energy source exists for truck drivers.

Energy independence a hard goal

The Energy Daily and Covanta Energy hosted a media breakfast with Senate Energy and Natural Resources Chairman Jeff Bingaman (D-N.M.) to discuss the congressional outlook on energy. At the forefront of discussions was the Outer Continental Shelf (OCS) Moratorium. The OCS Moratorium was put in place by Congress in 1981 to protect America's coasts from threats of oil and gas developments as well as to prevent leasing of coastal waters for fossil fuel development.

According to Bingaman, any ideas of changing the Moratorium would run into significant opposition and pointed out that President George Bush has not asked for a change either. When asked if the OCS Moratorium is shaping up to be an election issues, Bingaman said that the longer the topic was debated, the better it would be understood. Bingaman also noted that both presidential candidates Senator John McCain (R-Ariz.) and Senator Barack Obama (D-Ill.) have "kept the issue boiling" and not voted on it. Bingaman also said he was against the federal government ceding authority of the OCS to coastal states. He said that around $100 billion of the OCS revenue would go to coastal states and this in unfavorable in a time when the federal government needs its reserves. According to Bingaman, the OCS has always been a federal resource. Bingaman was quick to admit that leaders of coastal states would not agree with his stand.

Bingaman commended Texas oilman T. Boone Pickens for taking on the issue of energy and developing an alternative energy plan. According to Pickens' testimony before Congress last week, America needs to switch to local energy resources within the next 10 years to stop foreign oil dependence. Using Department of Energy estimates, Pickens said the U.S. should be capable of producing 22 percent of its electrical energy needs using wind-powered electricity. Bingaman said that he was in favor of using wind energy, as Pickens has been advocating. However, Bingaman admitted that, "100 percent energy independence is a hard goal."

Leader McConnell: “Energy is clearly, unambiguously the number one issue in the U.S.”

Senate Republican Leader Mitch McConnell (R-Ky.) held a conference call to discuss America’s need for a balanced and bipartisan energy plan. McConnell said that energy is the most important subject in the nation right now. He explained that in order to fix the energy problem, the U.S. needs to “find more and use less.” McConnell explained that the new bill addresses only a small part of the overall issue, speculation, and this act alone will not get the job done. He wants Congress to make a more serious effort in addressing the problem.

McConnell said that energy is the biggest issue the nation has faced since terrorism after 9-11. He is curious to see whether the Senate will “rise to the occasion” and deal with this big problem in a big, comprehensive way. McConnell wants to see if Congress can use this week to deal with the issue in a serious way and on a bipartisan basis.

McConnell also explained that Congress needs to do something “beyond the status quo.” According to McConnell, there has not yet been an adequate remedy for the energy crisis. He said he has no problem looking into the speculation aspect of the issue, but he also said that no one would argue that that is not all Congress needs to do. He stressed that over seventy percent of the American population is calling for a solution, and the time to start dealing with it is now. McConnell said that everyone is waiting to see if America is going to “get it back together” and do something serious to address the issue.

McConnell would not say whether or not he would vote in favor or against the energy bill on Tuesday, but said again and again that it only deals with a small portion of what needs to be done. He said he hopes Congress will be able to have a real debate with plenty of options, amendments, and votes because the American people are simply demanding it.