Chet Edwards For Congress - Energy & Gas Prices

Energy & Gas Prices

Kat — Thu, 06 Nov 2008 12:11:31 -0700

Energy & Gas Prices

Chet has voted to strip big oil companies of certain tax breaks and subsidies, because he believes that it is wrong, during a time of war, for big oil companies to post record profits while charging consumers over $3.70 a gallon for gas.

Chet voted to halt deposits of oil into the Strategic Petroleum Reserve (SPR) for the remainder of the year and supports the releasing of oil from the SPR to increase supply on the open market and further help reduce rising gas prices. Chet believes doing so would demonstrate a U.S. commitment to reduce speculation in the oil market which, some energy experts have said accounts for as much as 20-30% of rising gasoline costs.

Chet supported the Energy Independence and Security Act of 2007, which increased fuel mileage to 35 miles per gallon by 2020, the first increase in mileage standards since 1975, and provided $21 billion in tax incentives to increase production of domestic renewable energy sources, such as wind and solar energy.

Chet is leading the fight in Congress to open up the outer continental shelf to natural gas drilling, which would increase natural gas supply, lowering costs for home heating and electricity.

Plans to Expand Oil Reserve Are Clouded

Kat — Fri, 23 May 2008 22:12:40 -0700

Plans to Expand Oil Reserve Are Clouded

By Ben Casselman | Wall Street Journal | 27 May 2008

Edwards: "It would defy common sense to try to expand the U.S. Strategic Petroleum Reserve during a time of high energy prices."

The decision in Washington last week to stop filling the U.S. Strategic Petroleum Reserve is calling into question longer-range plans to expand the reserve's capacity -- a potential blow to the impoverished Mississippi town that stands to gain from the expansion.

The U.S. Department of Energy is pressing forward with plans to expand the world's largest stockpile of government-owned emergency crude, to one billion barrels from its current 727 million-barrel capacity. But while Congress approved the expansion in 2005 in an effort to keep up with rising U.S. oil consumption, it has yet to fund the $5 billion project. With oil prices topping $130 per barrel last week, that funding is increasingly in doubt.

"It would defy common sense to try to expand it during a time of high energy prices," says Rep. Chet Edwards, a Texas Democrat who sits on the subcommittee that will review funding for the expansion.

Nowhere is the decision being watched more closely than in Richton, Mississippi, the town selected in 2006 as the site of the first new storage facility since 1991. Local business and political leaders are counting on the project to bring hundreds of jobs and millions of dollars to a town that Mayor Jimmie White calls "one of the most economically deprived areas in the United States." Now, Mr. White says he fears the town has missed its window.

"We worry very much about this," he says. "I don't have a lot of confidence of what's going on in Washington."

Most of the debate in Washington in recent weeks has focused on a shorter-term question: whether to temporarily stop filling the reserve's existing sites in an effort to slow rising oil prices. The DOE and many independent economists have argued the reserve, which swallows up about 70,000 barrels of oil per day, has little impact on oil prices. But members of Congress, eager to show constituents they were taking some action during an election year, overwhelmingly voted to stop filling the reserve, and President Bush last week reluctantly signed the bill into law.

In theory, that decision is unrelated to the plan to expand the reserve, which won't provide any new capacity until 2012. DOE spokeswoman Megan Barnett says the long-term nature of the project means the expansion work should continue even if no oil is being added to the reserve right now. The reserve now holds about 703 million barrels, 97% of its capacity.

Under the expansion program, the DOE will enlarge two existing reserve sites, in Texas and Louisiana, by a total of 103 million barrels, and build a new 160 million-barrel site in Richton. In all three cases, oil would be stored in salt domes, deposits of compressed salt that occur naturally near the U.S. Gulf coast and other areas.

The process of hollowing out the domes, in which fresh water is injected into the ground to dissolve the salt, has raised environmental concerns because it would draw water from nearby rivers and would create millions of gallons of saltwater that would then have to be disposed of. But the greater handicap to the project may be its price tag, some $5 billion over the next decade. Environmentalists have seized on the funding issue to try to kill the project.

"Someone from Iowa couldn't care less about the environment in Mississippi, but I think they're going to have a strong care about how their [money] is spent," says Eric Richards, a leader of the Gulf Conservation Coalition, which opposes the project.

Advocates of the expansion plan, especially in Mississippi, say they are working hard to make sure the project moves forward. Rep. Chip Pickering, a Mississippi Republican who serves on the House Energy Committee, calls the recent debate a "temporary distraction" brought on by election-year politics.

"I think in the next year, when the political pressures are off, whether it's Barack Obama or John McCain, they will see the value of the Strategic Petroleum Reserve," Rep. Pickering said.

But even before the recent debate gained steam, the Richton project was far from a done deal. Congress approved just $27 million for the expansion this year, a fraction of the $160 million requested by the DOE. Earlier this year, environmental groups succeeded in pressuring the department to conduct a further review of the impact of the project. Together, the two decisions delayed the project by about a year, according to the department. Further hold-ups in funding wouldn't outright kill the project, but they could delay it indefinitely.

The project doesn't even have the unqualified support of the state's congressional delegation. Gene Taylor, a Democrat who represents Richton, has threatened to hold up funding for the project if environmental concerns aren't addressed.

"The easiest thing for me to do would be to walk over to the Appropriations Committee and say I don't want the money," Rep. Taylor says.

Congress urges Bush to halt oil reserve shipments

Kat — Wed, 14 May 2008 11:54:12 -0700

May 14, 2008

Congress urges Bush to halt oil reserve shipments

By H. JOSEF HEBERT | Associated Press

Congress voted overwhelmingly Tuesday to challenge President Bush to temporarily halt the daily shipment of thousands of barrels of oil into the government's emergency reserve.

Lawmakers disagreed on what — if any — impact the suspension might have on gasoline prices and acknowledged it was but "a modest step" in addressing public anger over soaring energy costs.

Bush has steadfastly refused to halt shipments of about 70,000 barrel barrels of oil a day into the Strategic Petroleum Reserve, a system of salt caverns on the Gulf coast. The reserve, created to respond to major oil supply disruptions, holds 701 million barrels and is at 97 percent of capacity.

"There is no evidence that (suspending shipments) will affect the price of oil or gasoline in a meaningful way," said White House spokesman Scott Stanzel. He said the president opposes any congressional mandate to stop deliveries and believes Congress should focus on broader energy issues.

The Senate voted 97-1 to suspend the shipments for the rest of the year. Hours later, the House followed suit, voting 385-25 to halt the deliveries. The votes don't compel Bush to act because the measures differ somewhat and would need to be reconciled before final congressional approval.

Still the votes were symbolic, in their strong bipartisan support, of lawmakers' frustrations at not being able to agree on anything more substantive in response to public anger over near $4 a gallon gasoline and oil prices in the $125 a barrel range.

"We are buying the most expensive crude oil in the history of the world and storing it," said Sen. Byron Dorgan, D-N.D. "When American consumers are burning at the stake by high energy prices, the government ought not be carrying the wood."

Rep. John Dingell, D-Mich., acknowledged there was no guarantee that suspending the deliveries would lower gasoline prices, but declared: "Common sense would say not to take oil off the market during a time of record high prices."

Rep. Joe Barton, R-Texas., who opposed the measure, said it was "ludicrous" to suggest — as some Democrats did — that putting this modest amount of oil into the market could shave 25 cents off the price of a gallon of gas. Barton called it "feel-good" legislation.

The votes came as Bush departed for the Middle East where he will meet with Saudi officials later in the week and likely press for an increase in oil production. The Saudis have rebuffed such overtures in the past.

The Strategic Petroleum Reserve was created in the 1970s as a precaution against major interruptions of oil supplies. Today at 701 million barrels it has enough to replace two months of oil imports.

Senators said the stockpile is big enough to meet any emergency.

Only Sen. Wayne Allard, R-Colo., voted against the measure.

Dorgan acknowledged that suspending the strategic reserve deliveries were "a small step forward" as Congress grapples with ways to respond to the high fuel prices. He said it could send a signal to energy markets and result in some gasoline price reduction and curb speculation that has driven up crude oil prices.

"It could have a chance of reducing the price a small amount," said Sen. Pete Domenici, R-N.M., who joined the chorus against continuing the shipments. "But make no bones about it, this is no big energy policy. This is one little thing we can do."

Rep. Nick Lampson, D-Stafford, is a co-sponsor of the House version of the bill.

He and Rep. Chet Edwards, D-Waco, had filed a similar bill in January proposing the government suspend its purchases of oil for the strategic reserve. The bill called for investing the resulting savings into alternative energy research.

Sen. Kay Bailey Hutchison, R-Texas, had written a letter to President Bush in mid-April asking that he halt the shipments to the strategic reserve. Sen. John Cornyn, R-Texas, and several other senators signed on to her letter. The plan also was included in a Republican energy bill similar to the one defeated in the Senate on Tuesday by a 56-42 vote.

The broader Republican energy plan defeated Tuesday called for opening the Arctic National Wildlife Refuge in Alaska and some offshore waters that are now off limits to oil development.

Republican leader Mitch McConnell of Kentucky said more domestic oil production is needed to keep prices in check and to reduce U.S. dependence on oil imports. But opponents said the Alaska wildlife refuge and coastal waters that have been off limits to drilling for 25 years ought to remain out of bounds to oil companies.

"We can't drill our way to lower prices," said Sen. Richard Durbin, D-Ill.

Edwards calls to halt oil deposits in strategic reserve

econnor — Sat, 03 May 2008 12:11:31 -0700

Saturday, May 03, 2008

Waco Trib: Edwards joins call for halt to oil deposits in strategic reserve

Waco Tribune
By David Doerr

As the average price for regular unleaded gasoline in Texas crosses the $3.50 mark, a growing number in Congress, including U.S. Rep. Chet Edwards, are proposing at least a temporary halt to the stockpiling of oil in the nation’s Strategic Petroleum Reserve.

This week, U.S. Sens. Kay Bailey Hutchison and John Cornyn urged President Bush to immediately halt deposits into the reserve, citing the cost to motorists during the “busiest driving season of the year.” The letter was signed by 14 other Republican senators.

“The SPR had 554 million barrels when President Bush took office, and today it has over 701 million barrels,” Hutchison said in a release. “We are in an extreme circumstance, now that oil is around $120 a barrel.”

In the letter, the senators say they believe that a halt in deposits would provide relief to consumers by sending a message to speculators that the government will take action to curb exorbitant crude oil prices.

Edwards, D-Waco, is calling to go even further than the senators’ proposal, saying that it could take flooding the market with tens of millions of gallons of oil from the reserve to “break the psychology of speculation.”

Edwards said independent oil producers have told him that increasing prices that consumers are seeing at the pump do not reflect the actual supply and demand for oil. Some estimates are that 20 to 30 percent of the cost of gasoline is the result of pure market speculation, he said.

“Speculators don’t like risk and uncertainty,” Edwards said. “If releasing large quantities of oil from the reserve could create uncertainty that there might be so much supply of oil on the market that the prices could start dropping, then (speculators) would start selling some of their investments, and that would help drive prices down.”

On Tuesday, Bush rejected the idea of halting deposits during a news conference, saying that the amount of oil the reserve purchases is too small to affect global pricing. He noted that the purchases for the stockpile amount to 67,000 to 68,000 barrels a day, a small fraction of the 85 million barrels per day in world demand.

“If I thought it would affect the price of oil positively, I would seriously consider it,” Bush said.

Edwards said the increasing cost of gasoline has become an economic crisis for working families and businesses.

“There is no question that high energy prices are seriously hurting the American economy,” he said. “A strong economy makes America more secure, so I think this is exactly one of the reasons we have a Strategic Petroleum Reserve.”

The president has sole discretion on when to halt deposits into the reserve, but legislation has been introduced to put a cap on the per-barrel price of oil purchased by the government for the reserve. So far, Republican lawmakers have favored a temporary moratorium on such deposits.

Given the pain that high gas prices are causing consumers, Edwards said he thinks the president would be hard-pressed to veto such legislation.

“Gasoline prices are a lot higher today then they were when the petroleum reserve was opened up previously,” he said. “At the very least taxpayers shouldn’t be paying $110 a barrel for oil going into the petroleum reserve. At the very best, selling some of those reserves could break the speculative forces that are unfairly driving up gasoline costs.”

Edwards said he has concerns about the proposals by presidential candidates Sens. John McCain, R-Ariz., and Hillary Rodham Clinton, D-N.Y., for a federal gasoline tax holiday during the coming summer. Edwards said he worried that oil companies would not pass on the savings of the 18.4 cents-per-gallon tax cut to consumers. He said he was also concerned that the tax cut would lead to a cut in revenue for the federal highway system at a time when roads and bridges are in need of improvement and expansion.

“I have a lot of questions that would have to be answered before I could support that,” Edwards said.

Edwards Proposes Tapping Into U.S. Oil Reserves

econnor — Thu, 01 May 2008 12:11:31 -0700

May 1, 2008

Edwards Proposes Tapping Into U.S. Oil Reserves

Joe Brown |Reporter

Congressman Chet Edwards says the time has come for the country to tap into its petroleum reserves.

With crude closing in on $120 a barrel, Edwards is calling for the immediate release of oil from the nation's Strategic Petroleum Reserve into the open market. He says the increased supply would help halt rising gas prices which are predicted to hit $4 per gallon by summer.

"At a time when costs for groceries, gas, health care, and education keep rising, releasing oil from the Strategic Petroleum Reserve is a common sense first step that will help ease the burden for working families and businesses struggling to make ends meet in today's economy," said Edwards.

The Strategic Petroleum Reserve is currently 97 percent full with more than 700 million barrels of oil. The SPR has been tapped before by President Bush, President Clinton, and former President Bush.

Central Texas Dam Getting Multi-Million Dollar Face Lift

econnor — Sat, 08 Mar 2008 12:11:31 -0700

KXXV TV: Central Texas Dam Getting Multi-Million Dollar Face Lift

March 8, 2008

"Clean energy is part of America's future," said Congressman Chet Edwards in the Whitney Dam Saturday afternoon.

In an effort to continue with his push for clean and sustainable energy sources, Edwards secured roughly 4.5 million dollars in funding to revamp the aging structure.

Built in 1949, Whitney Dam has generated thousands of homes in Central Texas with hydroelectric energy.

But after being online for more than half a century, the structure is showing its age.

Turbines and the two generators which convert water power to electricity are wearing out.

"As the plant gets older, we're going to start losing our reliability," said Army Corps of Engineer Tom McGrath.

Edwards said not only does the plant provide electricity for Central Texas but it is an example right here in our backyard of how to curb the nation's dependency on foreign fuel.

"The more we can do of this the more we find other energy sources and develop those the less the chance we have people spending over three dollars for gas," said Edwards.

Edwards added the modernization of the Whitney Dam is a win-win solution.

"This is truly part of our national effort to find renewable and clean energy," added Edwards.

The Army Corps of Engineers was able to sell roughly two million dollars worth of power last year alone.

All that money went right back into the hands of the U.S. Government.

The first stage of the renovation will start at the plant later this year.

VA ups mileage reimbursement

econnor — Fri, 01 Feb 2008 12:11:31 -0700

Friday, February 01, 2008

Waco Trib: VA ups the mileage reimbursement for vets traveling for medical care

Waco Tribune
By David Doerr

The pinch at the pump will become a bit less painful for veterans across the country today as the mileage reimbursement rate to visit Veterans Affairs doctors more than doubles to 28.5 cents, the first increase since 1978.

James Peake, secretary of the U.S. Department of Veterans Affairs, announced Thursday the 17.5 cent increase, up from 11 cents per mile.

“This increase helps veterans — especially those living in rural areas — offset some of the gasoline costs as they travel to VA’s world-class health care,” Peake said in a news release.

Advocates hope the rate increase will make it easier on veterans who sometimes have to travel hundreds of miles to receive specialty care at the VA’s six medical centers across Texas, including the hospitals in Waco and Temple.

“It’s not far out to say that you could have people coming from the Louisiana border to Temple or from Brownwood to Temple,” said Bill Mahon, McLennan County veterans officer. “That’s a good drive. There are a lot of people that don’t go to the VA, and their reasoning is, ‘Why in the world would I want to travel 300 miles just to get my eyes checked?’ ”

The rate increase could make the difference for veterans deciding between seeking VA health care or going without, said U.S. Rep. Chet Edwards, D-Waco, who chairs the appropriations subcommittee over veterans spending.

“One of the untold stories of 2007 was the historic $11.8 billion increase in funding for veterans passed by the Democratic-led Congress,” Edwards said in a news release. “The increase in travel reimbursement rates is one example of how millions of veterans will benefit from the $5.5 billion we added above the president’s request for the VA in just 12 months.”

Veterans who are rated 30 percent or more disabled and who are traveling for treatment of a service-connected condition are eligible to receive the reimbursement.

VA pensioners and veterans traveling for scheduled compensation and pension exams are also eligible.

With the new rate, a veteran traveling 400 miles on a round trip would receive a $98.46 reimbursement compared to $38 under the old system.

One of the reasons why previous VA secretaries have not increased the mileage rate was because the funds that paid for the program came out of the same pot of money that funds the agency’s medical operations, said Jennifer Fay, Central Texas Veterans Health Care System administrative services chief. Last year’s funding increase allowed the secretary to increase the reimbursement rate, she said.

Volunteer-run shuttle services between cities can save veterans and the VA money that would otherwise be spent on gasoline.

Eight shuttles based at the Waco hospital transported 10,866 veteran last year, saving the VA about $235,000 on mileage, said Sherry Hughes, the Waco VA’s director of volunteer services.

Bill would redirect oil flowing to reserve

econnor — Wed, 30 Jan 2008 12:11:31 -0700

Jan. 30, 2008
Bill would redirect oil flowing to reserve

By DAVID IVANOVICH | Houston Chronicle

Barrels would instead be sold to fund research

WASHINGTON — Hoping to steer $1 billion in government revenue toward energy research, two Texas Democrats have introduced a bill that would block the Bush administration from adding oil to the Strategic Petroleum Reserve.

Since last August, the Bush administration has added nearly 9 million barrels to the emergency oil stockpile by directing to the reserve a third of the oil paid to the government as royalties by producers operating in the Gulf of Mexico under a program known as royalty-in-kind.

The Energy Policy Act of 2005 authorized the administration to expand the reserve to 1 billion barrels. It now contains 698 million barrels.

The Energy Department has announced plans to add another 11 million barrels over the next six months. The department has drawn fire for expanding the reserve at a time of near-record high oil prices.

Continuing to fill the reserve with oil priced around $90 a barrel is "fiscally irresponsible and an inappropriate use of taxpayers' dollars," said Rep. Nick Lampson, D-Stafford.

The bill, authored by Lampson and Rep. Chet Edwards, D-Waco, would require the government to sell 13 million barrels by Sept. 30 and then suspend further additions to the reserve. Instead, oil received as royalty-in-kind would be sold on the open market, with the proceeds used to fund energy research projects.

Among the recipients of the funds would be the Sugar Land-based consortium Research Partnership to Secure Energy for America, which is headquartered in the congressional district Lampson represents.

Lampson and Edwards hope to attach their language to a follow-up economic stimulus package being contemplated on Capitol Hill, in the wake of the House passage of a $161 billion economic recovery plan.

Megan Barnett, a spokeswoman for the Energy Department, defended boosting the reserve.

"The Strategic Petroleum Reserve is a national asset that provides an additional layer of protection to the American people in case of severe supply disruption," she said. "It's critical for our energy security, as well as our national security, and we remain committed to filing it at a modest rate."

Brazos Valley tallies $41 million in earmarks

econnor — Wed, 26 Dec 2007 22:09:42 -0700

Saturday, December 29, 2007

BV tallies $41 million in earmarks

The Bryan College Station Eagle

By JANET PHELPS |Eagle Staff Writer

More than $41 million will be poured into Brazos Valley projects next year, thanks to earmarks by U.S. Rep. Chet Edwards, D-Waco.

President Bush criticized special project money as "wasteful government spending" when he signed the $555 billion bill Wednesday that funds the Iraq war into 2008 and keeps government agencies running through September.

The money will go to 16 projects in Brazos, Robertson, Madison and Grimes counties. The projects range from high-profile aerospace engineering and biofuel research at Texas A&M University to a small, church-based drug prevention program.

Edwards said Friday he was proud of the federal money he secured for local projects because it's an effective way to encourage local growth.

The Constitution gives Congress the power to make appropriations, he said, and earmarks allow local leaders to identify and receive funding for projects they see as important.

"I believe [locally initiated projects] make more sense than letting some bureaucrat in the Office of Management and Budget in Washington, D.C., make decisions about what projects to fund," he said. "I would challenge anyone to criticize agricultural research at A&M or emergency response training that help make our cities safer."

A majority of the $41.6 million will go to Texas A&M, including $985,000 for biofuels research and $705,000 for aerospace engineering projects that are used by NASA for lunar and Mars exploration.

Ken Peddicord, director of Texas A&M's Texas Engineering Experiment Station, said the funding is an important step in advancing research into new energy sources.

Texas A&M's BioEnergy Alliance -- a partnership between the Texas Agricultural Experiment Station and the Texas Engineering Experiment Station -- has developed groundbreaking research in alternative fuels such as sorghum that do not come from food sources, he said.

"This money allows the program to strike off in new directions, to move away from corn and ethanol," he said.

St. Joseph Health System also received money for repairs to its Madisonville hospital.

Gentry Woodard, director of legislative affairs and grants for the St. Joseph Health System, said employees at the 57-year-old hospital have volunteered on weekends to make repairs themselves.

Edwards said the staff dedication is one reason he allotted $117,000 to pay for repairs to the roof and emergency room upgrades.

"It was terribly important to that community," he said.

The earmarks come on top of the 2008 defense appropriations bill that was signed into law in November, in which Edwards secured $6.8 million for Texas A&M defense projects and $2.6 million for Lynntech Inc.

Other local earmarks include:

$392,000 to repave County Road 172 in northern Grimes County.

$196,000 to make improvements to Collard Street in Madisonville.

$376,000 to improve communication technology equipment at the Navasota Police Department.

$12.5 million to train emergency first responders at the National Emergency Response and Rescue Training Center at Texas A&M.

$2 million to fund research at the Nuclear Security Science and Policy Institute at Texas A&M.

$21.9 million to 23 farming, forestry and animal health research programs at Texas A&M.

$1.39 million to provide anti-terrorism training to educators and local law enforcement through the Texas Engineering Extension Service's Advanced Law Enforcement Rapid Response Training program and Texas A&M's Project Protect.

$588,000 to Brazos Valley Transportation Management Center to study local traffic solutions and plan for future growth.

$150,000 to Project Focus, a drug- and alcohol-abuse prevention program at Shiloh Baptist Church in Bryan.

... Seek Bipartisan Solutions To Energy Crisis

Kat — Sat, 05 Jul 2008 13:04:23 -0700

Lampson Urges House Leadership To Seek Bipartisan Solutions To Energy Crisis

by John Pape | Ft. Bend Now

Area congressman Nick Lampson (D-Stafford) has sent a letter to the Democratic House leadership urging them to seek bipartisan solutions to the nation's energy problems.

Area congressman Nick Lampson (D-Stafford) has called on the Democratic leadership of the House of Representatives to move away from "rancor and incivility" in the debate over the energy crisis and instead look for a bipartisan solution.

Lampson recently sent a letter to House Speaker Nancy Pelosi, Majority Leader Steny Hoyer, Majority Whip James Clyburn, Democratic Caucus Chairman Rahm Emanuel and Democratic Caucus Vice Chairman John Larson saying the contentious nature of the debate is overshadowing "true policy concerns."

"I write to you to strongly consider taking a bipartisan, comprehensive approach to solving our energy problem. The rancor and incivility with which this debate has been waged thus far has overshadowed the true policy concerns we must address and is unacceptable to the American people who look to us for leadership and solutions," Lampson wrote in his letter. "We will not be able to accomplish anything, let alone lead our nation to energy independence, if we are unable to have a civil debate and are unwilling to allow all options on the table."

Lampson went on to tell the House leadership that drilling in ANWAR should be on the table.

"In particular, legislation to increase domestic energy production, including the opening of the Arctic National Wildlife Refuge and Outer Continental Shelf, should be a part of the way forward and not blocked from consideration in favor of harmful efforts to stifle production on existing leasing," Lampson noted.

Speaking to Fort Bend Now, Lampson said everyone is feeling the pinch and Congress needs to look for solutions, not political positions.

"All of us, families and businesses, are feeling the financial pain high energy prices are causing. Our country needs a common sense energy policy that embraces traditional and alternative energy sources to provide a needed relief," Lampson said. "The energy challenge we face is real and urgent; it should not be mired by partisan politics, it should be overcome with sensible dialog, compromise and solutions."

Lampson said his solution is a pragmatic mix of immediate, short-term relief coupled with long-term progress toward energy independence.

"My energy plan is a pragmatic approach to providing short-term gas relief and long-term energy solutions. It has received bipartisan support and I think it could be a first step to opening a dialog on a national energy policy," Lampson said.

In May, Lampson and fellow Democrat Chet Edwards introduced legislation that would modernize the Strategic Petroleum Reserve to help address immediate needs, coupled with investing in alternative energy research to cultivate sustainable energy independence. The two congressmen were joined by a bipartisan House coalition in pushing the bill.

The Invest in Energy Independence Act would provide $1 billion for alternative energy research by generating new revenue through the Strategic Petroleum Reserve modernization and redirecting Department of Energy resources to researching the alternative energy options.

The legislation directs the Secretary of Energy to exchange 10 percent of light crude in the reserve for heavy crude. The exchange would create new revenue by capitalizing on the price difference between light and heavy crude. That, the bill's sponsors say, will unlock some of the value in the reserve without affecting the overall capacity or strategic policy. The release would also help reduce the effects of market speculation on oil prices.

"The cost of crude oil continues to reach unprecedented prices and America has reached a tipping point when it comes to energy," Lampson said at the time he introduced the legislation. "We must make a serious commitment to developing a diverse supply of domestic energy sources, especially as we find ourselves in an increasingly stiff competition for energy with the rapidly growing demands of China and India."