Chet Edwards For Congress - Oil and 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 covers Iraq, immigration, oil

Kat — Tue, 12 Jun 2007 08:19:32 -0700

June 12, 2007
Edwards covers Iraq, immigration, oil

By STEVE SNYDER | Navasota Examiner editor

A good politician knows how to relate well to a crowd.

In the case of Congressman Chet Edwards' speech to a Navasota/Grimes County Chamber of Commerce luncheon May 31, a little joke was in order at the top of the lineup.

"I have good news for you: Neither the U.S. Congress nor the Texas Legislature is in session today," he said.

After that, Edwards got down to brass tacks. He started by avowing Congress is not as partisanly divided as portrayed by national news media stories.

"If all I did was watch national television ... the only impression I would have right now is that we're fighting over Iraq and Attorney General Gonzales ... and it's all partisan," he said. "What I would tell you is ... there are good people on both sides of the aisle but they don't make the news."

Before getting to a discussion of Iraq, and other issues, Edwards went back to a bit more levity, referencing throat surgery he had at the start of the year.

"I could not speak for two months ... and I'm looking to see if we can't get this district in the Guiness Book of World Records ... for longest period of time without a Congressman talking," he said.

Iraq

The serious issues on his list of topics did begin with Iraq, then. Edwards said he was glad Congress sent a new Iraq funding bill to President George W. Bush, even though it did not have timetables or benchmarks that an earlier House bill, vetoed by Bush, did have.

"I'm glad we got the bill passed to fully fund the president's request. I think it would be a mistake to pull all our troops tomorrow," he said.

Edwards was one of the House Democrats who voted yes May 24 on a House vote concurring with a Senate amendment, the effect of which was to approve an Iraq spending bill without timetables for troop reductions or withdrawals, and without Congressionally-binding benchmarks on the Iraqi government. The overall vote was 280-142. Edwards also voted for the original House supplemental spending bill May 10, later vetoed by Bush, that did have timetables.

"Can we guarantee stability in Iraq? No ... not even with a million troops," Edwards continued. "That's the job of the Iraqi people. I want to send a message to Iraqi leaders: Clean up your corruption. Take more responsibility. We're not going to write a blank check of $10 billion a month forever."

Energy

With $3 a gallon gas, this was bound to be his second topic.

"I'm afraid we're paying the price for having a long-term energy policy," Edwards said.

He said a major portion of the problem was lack of new U.S. gasoline refineries.

Referring to a 2005 energy bill that made it easier to build refineries, Edwards said we needed another one. He said he wanted to make it easier to build nuclear power plants, open up more of the Gulf coast, especially the Florida portion, for oil and natural gas drilling, and get automakers to make some serious improvements in fuel economy.

"If they can't do a better job, we may not have an American car-manufacturing industry," he warned.

Later, during audience questioning, Edwards said he was open to the idea of the government developing a strategic reserve for refined gasoline similar to the one it already has for crude oil.

... 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."

Edwards Praises Ag Research at Texas A&M

Kat — Thu, 03 Jul 2008 14:00:10 -0700

U.S. Rep. Chet Edwards Praises Ag Research at Texas A&M, Tours Labs

Dave Mayes | Ag News | July 3, 2008

COLLEGE STATION – U.S. Rep. Chet Edwards of Waco on Wednesday praised the agricultural research accomplishments of the Texas A&M System, then toured some campus labs to get a first-hand look at efforts aimed at world solutions to food and energy needs.

"I feel like the water boy who is finally getting to meet the football players," Edwards told a crowd of 60 researchers and administrators. "You are the real stars … accomplishing great things."

People tend to think that if they aren't farmers or ranchers, that agricultural research has no relevance for them, he said, but that's not true.

On his tour, Edwards met with Dr. Keerti Rathore, an AgriLife Research plant biotechnologist, whose ground-breaking work on removing a toxic compound from cottonseed could make it a high-protein food available to an estimated 500 million people a year.

He also was shown 20-foot tall sorghum stalks that show great potential as high-tonnage biomass for the production of cellulosic ethanol. The sorghum stalks, which resemble bamboo canes, could be grown throughout much of the South and produce an estimated 20 dry tons per acre, according to AgriLife researcher Dr. John Mullet.

Such high yields, Mullet explained, mean that 2,000 gallons of ethanol, instead of 500 gallons, could be produced per acre.

Edwards said as he visits with constituents in his 17th Congressional district, which runs from Cleburne south through Waco and Navasota, the issues people are most concerned about – high food prices, high fuel prices and health care, for example – are the very issues that Texas AgriLife Research scientists are working on.

As high as food prices seem, Edwards said, the truth is that Americans pay less for food as a percentage of income than any other people in the world. Without the long history of agricultural research in partnership with farmers and ranchers, he said, he couldn't imagine how high food prices would be – "double, triple, who knows?

AgriLife researchers are also working on a wide array of alternative fuels, from algae to sorghum, he said, "to find new sources of renewable clean energy that in the long run can bring down the price of gasoline and energy."

Edwards also praised the work of the Vegetable and Fruit Improvement Center at Texas A&M, which is working to develop more healthful foods that will help people fight diseases or prevent them altogether, thus lowering health care costs. Referring to his water boy analogy, the congressman said he felt privileged to play a small part in helping bring the "water" – some $23 million in federal funds for agriculture and energy research at the Texas A&M System in 2007.

But Edwards also pointed out that all of this funding came from "earmarked" legislation, which directs funding to a particular project in a Congressional district, a practice that has been criticized as wasteful. He said there's a positive side to a story that has been portrayed negatively nationally. "We shouldn't let the one bad (earmarked) project overshadow the 99 others that are making our quality of life better, our economy stronger and our nation safer."

"If we were to end all Congressional earmarks," he warned, "if that became the policy, it would devastate our AgriLife research here at Texas A&M, our engineering programs and some of our nation's defense programs that are so important to the military."

"So these are earmarks that I am very proud to be associated with," he continued, "and I didn't come up with these. Many of them came from here (at Texas A&M), from some of the world's finest researchers."