WASHINGTON, DC – U.S. House Energy and Commerce Committee Chairman Fred Upton (R-MI) issued the following statement today in response to President Barack Obama’s Weekly Address:
“To secure our energy future, we need to harness America’s energy resources – all of them. With our American Energy Initiative, Republicans are pursuing an “˜all of the above’ strategy to increase all forms of American energy. One energy expert testifying before our committee has projected that producing an additional one million barrels per day of American energy could create one million additional jobs here at home, meaning economic security as well as energy security. A key pillar of our plan is to stop government policies that drive up gasoline prices, which is why the U.S. House of Representatives will vote in the coming days on the bipartisan Energy Tax Prevention Act. This is a sensible, straightforward plan to stop reckless government regulations that will increase the price at the pump and on Americans’ monthly utility bills.
“With gasoline prices soaring and the economy still struggling, we simply cannot afford to lock away America’s own energy supplies or impose a maze of government regulations designed to drive up energy prices. Likewise, it serves no one well to understate – and therefore ignore – our own resources. To claim America has just two percent of the worlds ‘reserves’ is misleading. In fact, the United States is blessed with the largest amount of fossil energy ‘resources’ in the world, eclipsing Saudi Arabia, China, and Canada combined -and that’s without American oil shale deposits and natural gas hydrates. Americans don’t face a shortage of domestic energy; we face a surplus of government regulation.”