Opinions
Congressional attempts to advance energy legislation this summer have done nothing to boost America's long-term energy security -- in fact, jeopardizing the ideal of reliable supply. As the only developed country that substantially restricts access to known domestic energy resources, our lawmakers should consider the potential effects that these faulty bills could have on our economy.
Domestic energy companies have fueled our nation's economy for more than a century. Yet pending legislation would hinder their ability to meet our nation's increasing energy demand -- causing job losses, rising energy costs and financial hardship for the millions of Americans whose pensions are invested in U.S. oil companies.
Facilitating access to our vast domestic energy resources is one of the smartest things that lawmakers could consider. With the U.S. Department of Energy projecting fossil fuels to meet approximately 85 percent of domestic energy demand over the next two decades, environmentally sound development of the petroleum resources within our borders should be a major component of any considered legislation.
Unfortunately, the current energy bills focus on drastically higher taxes on the oil industry, which will increase our dependence on foreign oil and raise energy and food costs. In addition, higher taxes will curb the billions of dollars that oil companies reinvest to develop supply and enhance U.S energy security. For example, directional drilling and 4-D seismic imaging are just two of the innovations that are allowing domestic energy producers to locate and secure essential energy supplies here in Kansas, while significantly reducing their impact on the environment.
By hampering the operations of our domestic energy producers, this legislation also gives competitive advantages to foreign energy firms. Excessive taxes in the House bill will restrict the assets that American oil companies have available to fund the financially risky exploration and development projects that are common to the energy industry. Energy development is financially demanding, often requiring millions in investments before one drop of oil is pumped. So Congress should see that domestic energy firms need level ground to compete with nationalized foreign firms that aggressively pursue global resources without the burden of undue taxes.
Lawmakers need to refocus their attention on the vital role energy plays in the U.S. economy, and our need for greater supply to continue future economic growth. Here in Kansas, the new Spearville Wind Energy Facility's 67 turbines are now fully operational, and are supplying power to around 33,000 Kansas City homes. The United States needs all forms of energy. However, Congress is working to advance legislation that sacrifices traditional forms of energy in hopes that alternatives and renewables will somehow make up the difference.
This short-sighted approach places politics above sensible policy and America's economic well-being. Both the Senate and House energy bills must be overhauled to realistically provide for America's energy future, or they should never see the light of day.
DR. GREGORY L. SCHNEIDER,
Emporia
Schneider is an associate professor of history at Emporia State University in Kansas.
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