Response from Harry Reid about domestic oil drilling

Senate Majority Leader Harry Reid responded to my recent email regarding my opposition to drilling in ANWR and off the U.S. coasts:

July 7, 2008

Thank you for contacting me about domestic oil supplies. I appreciate hearing from you.

I know that high gasoline and oil prices are hurting hard-working Americans increasing the costs of doing business for almost every industry, as well as raising prices for consumers. That is why I introduced the Consumers First Energy Act of 2008 (S.3044). Among other things, this bill would aggressively weed out oil price speculation, protect consumers from price gouging and encourage big oil companies to invest in clean alternative fuels made in America. Our overdependence on oil, especially foreign oil, is harming our national security, environment, consumer markets and our economy. A new direction is needed to move us much more quickly towards energy independence.

I noted your concerns about proposals to increase domestic drilling. Currently, there are 45.5 million acres of federal onshore lands that have been leased to oil and gas companies, yet 31 million of these acres are not producing. Additionally there are 33 million acres leased in the outer continental shelf that are also not producing. Opening up even more land to drilling would only reward big oil companies which have already amassed over $600 billion in profit since 2000 and provide little price relief to consumers.

The United States consumes roughly 25 percent of the world's oil, but only has 3 percent of the world's oil reserves. Even if oil companies were permitted to explore and drill for oil and gas on any federal land they wish, America would still be dependent on foreign oil. And OPEC, oil companies, and oil speculators would still have the power to decide what price Americans pay at the pump.

For these reasons, I believe that major investment in efficiency and the domestic production of clean renewable energy and alternative fuels is both the best solution and the inevitable solution to our dependence on oil. Unfortunately, the oil companies have only invested negligible amounts in these solutions thus far.

We should focus our attention and efforts on developing our nation's clean renewable energy resources, and improving the efficiency of our vehicles, homes and businesses. By investing in clean renewable energy and energy efficiency, we can create thousands of new jobs and keep hard-earned gas money in the pockets of Nevadans and all Americans instead of sending it overseas or lining the coffers of the oil companies.

Again, thank you for taking the time to share your thoughts with me. For more information about my work for Nevada, my role in the United States Senate Leadership, or to subscribe to regular e-mail updates on the issues that interest you, please visit my Web site at http://reid.senate.gov. I look forward to hearing from you in the near future.

My best wishes to you.

Sincerely,
HARRY REID
United States Senator
Nevada