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We are Powerless to Demands of Foreign Oil Producers March 29, 2004--Washington, DC -- Vice-Chairman of the House Resources Committee and an ardent advocate for a comprehensive national energy policy, Congressman Jim Gibbons (R-Nev.) today expressed great concern that the United States'over-dependence on foreign sources of energy may threaten the nation's economic security.

"Nearly two-thirds of American energy comes from foreign sources," said Gibbons. "During the oil crisis of the 1970s, the U.S. imported only 30 percent of its oil from abroad. We now have doubled that level and our dependence on foreign oil only continues to grow. We have no bargaining capability with a dependence that high."

"Today, we are at the mercy of OPEC and some politically unstable nations to provide us with the fuel we need to drive our cars, the power to turn on our computers, and the electricity to keep our lights on at night. Such a high level of dependence is not good for our economy or for our national security. The decision of OPEC or another foreign entity to shut off or significantly reduce oil production could simply cripple our nation."
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"It is time that we pass responsible legislation that allows us to tap our domestic energy sources to reverse this dangerous trend," Gibbons added. "The only way to ensure our economic security is to increase domestic production which in turn will create jobs and economic growth here at home."

"The House has passed energy legislation three times, yet the Senate has failed to act. Instead of useless political rhetoric, the American people need real energy reform that will assure our nation can meet its own 21st Century energy needs. It is time to send an energy bill to President Bush to ensure the United States is no longer held powerless to the demands of foreign oil producers."

For more information on Congressman Gibbons and his work for Nevada please visit: http://www.house.gov/gibbons

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