Madam Speaker,  I rise today in strong support of the Comprehensive American Energy Security and Consumer Protection Act, and I would thank to thank the Democratic Leadership of the House of Representatives for bringing this critical bill to the floor.  In my home state of Rhode Island, the high cost of oil and gas have become the top concern for families and businesses struggling to keep up in today’s economy.  This legislation promotes short term solutions to increase supply of domestic oil and gas, while establishing a long term national energy policy that invests in the development of renewable energy resources. 

This legislation will open the Outer Continental Shelf to responsible oil and gas development between 50 and 200 miles off the coast, requiring state approval between 50 and 100 miles.  It will protect national marine monuments and sanctuaries, as well as the Georges Bank fishing area off the coast of New England.  Further, the Interior Department will be required to ensure that drilling is only approved if it can be done in a manner that protects the coastal environment, marine environment, and human environment of the state coastal areas and the Outer Continental Shelf.  We cannot sacrifice the health of our coastlines and the people who live there, and I am pleased that this bill takes a safe and responsible approach to domestic drilling. 

While I support the provisions to increase domestic oil production, I have said time and time again that we cannot drill our way out of our national energy crisis.  The U.S. represents 25 percent of the world’s daily oil consumption, yet we only have two percent of the world’s reserves -- relying solely on new production simply doesn’t add up.  Under this bill, revenue from domestic offshore production will be reinvested into the development of renewable energy resources, such as wind, solar, and bio-fuels, to bring clean, affordable solutions to our nation. 

I also strongly support a provision in this bill to require electric power companies to produce at least 15 percent of their electricity from renewable sources by 2020.  Furthermore, the legislation includes several proposals requiring the Department of Energy and Department of Housing and Urban Development to create new efficiency standards for both residential and commercial buildings and to help educate consumers on how to become more energy efficient, therefore limiting our demand for foreign oil. 

I am also pleased to see tax credits included for the promotion of more energy efficient appliances and vehicles.  Increased demand for green products will bring new jobs in green technology to our communities.  Further, because this bill rolls back tax breaks to big oil and uses revenues from drilling to pay for the increased investment into renewable resources, we will not leave debt behind to be paid for by future generations. 

I believe that it is critical for our nation to achieve energy independence and to end our reliance on foreign oil, while preserving our environment for future generations in a fiscally responsible manner.  The Comprehensive American Energy Security and Consumer Protection Act reaches a careful balance in support of these efforts, and I am pleased that this Congress is putting the safety and security of our nation’s families ahead of excessive industry profits.  I urge my colleagues to join me in support of energy independence by voting yes on the Comprehensive American Energy Security and Consumer Protection Act.