Dear Mr. Roller,
Thank
you for contacting me regarding high gas prices, domestic energy
production, and energy independence, including the construction of the
Keystone XL Pipeline. As a supporter of construction of the Keystone XL
Pipeline, I appreciate hearing from you and welcome the opportunity to
respond to your views about these important issues.
The
recent rise in gas prices has made everyday activities like going to
work, school or the grocery store more difficult for Missouri families.
Rising prices also mean that more American dollars are flowing to
potentially hostile oil-producing countries in the Middle East and
elsewhere, instead of supporting our economy and job creation here at
home. That is why I am working to advance policies that will bring down
gas prices and boost U.S. energy independence and security, including
constructing the Keystone XL Pipeline.
I
support construction of the Keystone XL pipeline because, by increasing
our capacity to import oil from Canada, one of our most reliable trading
partners, the pipeline will improve U.S. energy security and prevent
U.S. resources from being sent to oil-producing nations overseas who are
often hostile to U.S. interests. Authorization of the pipeline will
also result in the creation of several thousand short-term construction
jobs and a number of permanent jobs for ongoing maintenance of the
pipeline. You may be interested to know that I voted in support of
several amendments that would have authorized construction of the
pipeline, but that would also have responsibly addressed environmental
concerns by rerouting a section of the pipeline around an
environmentally sensitive region of Nebraska. I was happy to see
Nebraska Governor Dave Heineman take these considerations into mind and
approve an alternate route for the pipeline on January 22, 2013. This
was a commonsense compromise that meets environmental concerns, is good
for our energy security, and good for job creation.
Although
recent efforts in the Senate to authorize the Keystone pipeline have
failed to garner the 60 votes required for passage, I will continue
working with my colleagues to find common ground and move this project
forward. In fact, I supported the decision by the pipeline's builders
to move forward with a portion of the pipeline that will be contained
solely in the United States and so faces a simpler permitting process.
This will be done while efforts continue to authorize the full length of
the pipeline up to and across the Canadian border.
I
am also working to reign in the Wall Street speculators who are driving
up oil prices. During the 112th Congress, I cosponsored the Energy
Markets Emergency Act (S. 2222). This legislation, introduced by
Senator Sanders of Vermont, would have required the U.S. Commodity
Futures Trading Commission, the agency responsible for regulating energy
markets in the United States, to act within 14 days to eliminate the
excessive speculation that is driving up oil prices. The fact is, a
broad range of experts agree that excessive speculation is contributing
to high gas prices. In fact, a report from the investment bank Goldman
Sachs concluded that excessive speculation is adding $0.56 to the price
of every gallon of gas. This is simply unacceptable, and we must act to
reign in the traders on Wall Street who are driving up gas prices.
Unfortunately, the Energy Markets Emergency Act was not considered for a
vote prior to the close of the 112th Congress.
You
may also be interested to know that I am a strong supporter of
alternative fuels such as corn-based ethanol and biodiesel. The United
States produced over 14 billion gallons of ethanol in 2011, displacing
more than 6% of our gasoline usage. This is equivalent to more than
half of our total imports last year from Saudi Arabia and nearly
two-thirds of our total imports from Venezuela, the second and fourth
largest sources of U.S. oil imports in 2011, respectively. Ethanol
production also creates new job opportunities in rural areas. As a
leading corn-producing state, Missouri is in a unique position to
contribute to, and benefit from, ethanol production.
By
approving the Keystone XL pipeline, continuing to increase U.S. oil
production, and maintaining our investment in biofuels, we can boost
U.S. energy security and ensure that more of the money we spend on fuel
stays here at home, boosting our economy and creating jobs.
