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FOR IMMEDIATE RELEASE
September 16, 2008
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Contact: Zach Goldberg
202-225-5801 (office) |
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HOLT STATEMENT IN OPPOSITION TO HOUSE ENERGY LEGISLATION
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(Washington, D.C.) – Rep. Rush Holt (NJ-12) today issued the following statement following his vote against energy legislation in the House of Representatives that would allow drilling on the Outer Continental Shelf (OCS).
There is much that I strongly support about this legislation, including the expansion of renewable energy, repealing of tax subsidies to big oil companies, and creation of green jobs.
However, I still believe that drilling in environmentally sensitive areas, such as our coastline, is unwise. Some in America claim that drilling – here, now, and everywhere – will bring instantaneous relief to families paying painful gas prices. The facts do not support this claim. “Drill baby drill” is not an energy policy, it is a slogan to hide behind to avoid coming up with a real policy which will help America move towards sustainable, affordable energy. The evidence shows that drilling in OCS would save perhaps pennies per gallon years from now. We can begin now, not years from now, to move to sustainable, affordable energy. We will never be able to drill our way to energy independence. The United States consumes 25 percent of the world’s oil but only possesses 3 percent of the world’s oil reserves. Even if we drilled on every single square inch of land where oil is assumed to exist we will never be able to meet our national demand.
That said, the environmental and financial requirements for an oil or gas company to drill are strong enough that few if any wells will be drilled under this legislation, and I expect smarter, more comprehensive legislation will follow next year.
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