America is a country rich in energy resources and emerging technologies, and I support an all-of-the-above energy strategy that encourages domestic production, reduces our dependency on foreign oil and explores alternative energy solutions.
Oil and natural gas production has shaped Oklahoma’s economy since shortly after statehood, and it continues to do so today. While I am supportive of our traditional energy producers and protective of the thousands they employ, I have also supported tax credits that promote renewable energy development—like wind power—and incentivize consumers to use renewable and alternative fuels.
Hampering domestic energy production is not the path towards a robust economy and job growth. Under the Obama Administration, the Environmental Protection Agency (EPA) worked to formulate a national plan to reduce emissions of carbon dioxide and other greenhouse gases. Such drastic changes in energy policy would have had damaging consequences on our economy, including a dramatic increase in electricity prices. I am pleased to be working with the Trump Administration to roll back these disastrous policies and replace them with commonsense regulations that will protect our environment, while not hurting small energy producing companies that help promote Oklahoma’s economy.
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If only President Obama would take his approach to energy production and apply it to the national debt, we’d be down to 2007 levels in no time. According to a new report from the nonpartisan Congressional Research Service (CRS), his administration’s policies have caused production on federal lands to plummet.
In a recent speech, Secretary of State Hillary Clinton made the case that energy policy plays a crucial role in both America's national security and our economic security. Speaking at Georgetown University on October 18, Secretary Clinton stated, "Today, energy cuts across the entirety of U.S. foreign policy. It is a matter of national security and global stability. It is at the heart of the global economy." Clinton emphasized that "energy is essential to how we will power our economy and manage our environment in the 21st century."
The media may no longer be paying attention to gas prices, but the American people are fully aware that fuel costs are on the rise again. The $3.72 national average gas price recorded on August 20 was the highest ever observed on that date. Prices have risen 9 percent over the past few months, making 2012 the most expensive year ever for drivers. According to USA Today, industry experts predict average prices could rise as high as $3.90 and remain above $3.00 even into autumn.
President Obama's decision to unilaterally kill the Keystone pipeline project is not the only government action to stifle energy production and job creation. Every day, federal policies create obstacles to the energy independence America needs to achieve for both our national security and economic recovery.
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the White House announced it is rejecting plans to move forward with the Keystone XL pipeline:
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the Obama administration announced its decision to release 30 million barrels of oil from the nation's Strategic Petroleum Reserve:
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) made the following statement after the House vote on H.R. 3534, the "CLEAR" Act:
WASHINGTON – Congressman Tom Cole (OK-04) issued the following statement today regarding H.R. 2454, the Waxman-Markey cap-and-trade bill.
"The President said it best: cap-and-trade legislation will cause utility rates to 'skyrocket,'" Congressman Cole said. "The national energy tax the House passed today will cause energy prices to rise and it will force American manufacturers to relocate to other countries - countries with far less stringent environmental regulations than exist in the United States today."
Bill would Lower Energy Costs and Invest in New Energy Sources
WASHINGTON – Congressman Tom Cole (OK-04) made the following statement today after becoming a co-sponsor of the American Energy Act.