Floor and Committee Statements

Thursday, March 29, 2012

Floor Statement on U.S. Energy Policy

Mr. ISAKSON. Madam President real quickly, we talked all week about gas prices, and there has   been a lot of demonization from both sides. I am a pretty simple guy. I was a   businessman for 33 years, went and got a degree in college in business, studied   economics in high school, and learned one principle of free enterprise and   competition: prices are determined by supply and demand. If your supply goes   down and your demand goes up, your prices go up. On the contrary, if the supply   is plentiful and demand goes down, your prices go down. You can blame gas   companies, presidents' salaries, anything you want to blame; the fact is, we are   talking out of the side of our mouth--and particularly in the   administration--when it comes to exploration for natural resources in the United   States of America, and only can we become energy independent when we develop all   of our resources. I support that. I drive a hybrid car. I am not just somebody   who talks about it, I believe it is important. It reduces my consumption, it   extends my miles per gallon, and it is better for the environment.      

   But we have proven through the Solyndra and other cases that some of the   alternative energy sources were either not perfected or frankly just don't work.   So while we are developing ones that do, we should be robustly exploring in the   gulf, in Alaska, in the Midwest, in the Northwest, and offshore, such as my   State of Georgia, the resources we know exist to raise the supply of petroleum   in the United States and lower the price to the American taxpayer.      

   All four sources of energy that are safe and reliable should be promoted.   That includes nuclear energy. I am very proud and I am thankful to the President   that he issued the loan guarantee on the first reactors licensed in this country   since 1978. They are in Plant Vogtle in Augusta or Burke County, GA. But his   Chairman of the Nuclear      

   Regulatory Commission voted no on that final approval. He was outvoted 4   to 1, but he voted no. That sends a signal that we may talk on one hand about   having robust development of all resources, but when it comes to playing our   hand on the actual vote, we really don't do it. The same thing is true with the   Keystone Pipeline. You can't just approve the pipeline to the south without   connecting it to the north because if you do, you don't get the petroleum.      

   We can blame whomever we want to blame, but the fact is facts are   stubborn, and supply and demand is what dictates price. We should robustly be   exploring the natural resources of the United States for America to have less   dependence on foreign oil and more dependence on our own oil where we know we   have resources. We should pay attention to our environment and recognize that no   country in the world has done a better job in the modern era since the   industrial revolution of cleaning up its environment than the United States of   America. No one looks after their environment harder than the United States of   America. We owe it to our people to look equally hard at the cost of gasoline,   the price of petroleum, and the robust exploration of our own natural resources   here at home for less dependency overseas.