Statement on Tapping the Oil Reserves
by Congressman Blake Farenthold on Thursday, June 23, 2011 at 2:13pm
Today, the Obama Administration announced it's decision to release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR).
We need long term solutions, not short term answers. It is a reckless decision on the part of the White House to tap into our emergency oil reserves. These are valuable reserves that are meant to be used in times of national emergency—not as a substitute to failed domestic energy policies.
The Department of Labor announced that 429,000 more Americans applied for unemployment benefits last week. These new filers are joining the nearly 14 million Americans already without a job. Domestic oil production would create jobs in America and provide a path for energy independence. South Texas has the ability to be a leader in domestic energy solutions. Rather than tapping into the SPR, the White House should eliminate excessive regulations that prevent domestic drilling.