America imports 61 percent of its crude oil and 15 percent of its natural gas. Our dependence on imported energy is a significant economic and national security worry. We need to encourage more production of all forms of energy in order to keep our dynamic economy functioning and competitive. That was the laudable goal of the Energy Policy Act of 2005, which among much else, streamlined ways to get government permits and stripped away unneeded regulations. Nothing has happened since 2005 to change the need or the goal.
Even so, a mere two years after passage of the 2005 law, Congress is moving to slap the paperwork and red tape back on the energy industry. A bill sponsored by Rep. Nick Rahall, D-W.Va, would greatly slow down the discovery and exploration of new oil and natural gas deposits. The bill adds redundant regulations that do nothing to increase domestic production, but will discourage the private investment required to nudge our nation closer to energy independence.
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