Walden unveils financial aid plan
Energy production on U.S. outer continental shelf included
From our weekly issue dated July 9, 2008
Tell the world!
Congressman Greg Walden
Second District Congressman Greg Walden (R-Ore.) has unveiled his framework to fund county payments and PILT (Payments In Lieu of Taxes) for five years, as well as billions of dollars worth of renewable energy, with revenue from new domestic energy production on America’s outer continental shelf.
Walden made the announcement during a news conference in Central Point. He plans to introduce the legislation with a group of bipartisan co-sponsors at the U.S. capital.
“More than 85 percent of the oil and gas resources off the continental United States are locked up because of federal laws,” said Walden. “We can and should produce American energy and pay for county payments and significant investments in renewable energy at the same time.”
Said Jackson County Commissioner Jack Walker, who attended the press conference with several dozen other members of the community, “Obviously the congressman is heading in a direction that most people embrace today, regardless of their party affiliation.
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“The public supports accessing our own resources,” said Walker, “not only for national security, but for the sake of a sound economy. We heard from the major users of petroleum and natural gas resources, and the impact of high cost fuel is devastating.”
Walden noted that America imports 60 percent of its oil, sending more than $1.6 billion out of the country every day to countries like Saudi Arabia and Venezuela. Only 2.5 days worth of that money would fund county payments and PILT for five years. America's Outer Continental Shelf contains an estimated 86 billion barrels of oil, he said.
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Here’s what the legislation, called the Security and Energy for America Act (SEA Act), would pay for through opening production of offshore oil and gas more than 75 miles offshore:
*$4 billion for five years of county payments and PILT.
*$600 million for geothermal energy production grants.
*$500 million for wave energy production grants.
*$500 million for wind and solar energy production grants.
*$500 million for biomass energy production grants.
*$500 million for hydropower production grants.
*$500 million for cellulosic energy production grants.
Hundreds of millions of dollars for onshore and offshore fish-and-wildlife habitat enhancement.
*Hundreds of millions of dollars for education and job training programs.
*Approximately $1 billion in heating assistance to low-income Americans.
On top of all that, Walden indicated, there would be enough money left over to help pay for the reduction of the national budget deficit.
Walden noted that it would occur with just with energy production past the 75-mile offshore marker.
Between the shore and 75 miles from it, states would control all energy development, giving unprecedented powers to the states.
“This is real energy, which makes this a real solution,” said Walden. “It pays for county payments. It pays for PILT. It pays for over $3 billion of renewable energy production.
“It lessens our dangerous addiction to foreign oil. And yes, it’s ambitious, and some will search for any reason and any excuse to oppose it, simply because it increases the energy supply for American families and businesses that provide the jobs our citizens rely on.
“This plan is what rural communities and America's smarter energy future need,” Walden concluded.
