Domenici: U.S. faces ‘economic destruction’

Veteran Sen. Pete Domenici (R-N.M.) issued a stern warning Wednesday to press for expanding domestic oil drilling, saying he has “never been more frightened for our country’s future than I am today.”

“Unless we act quickly to expand America’s supply of oil and gas, we will continue to grow poorer and poorer by the day,” said Domenici, who is serving his 36th and final year in the Senate.

{mosads}He joined a chorus of Republicans who blasted Democrats for not doing enough to solve energy problems. The GOP wants to increase oil and gas production as a way to reduce reliance on foreign oil and to ease the pain at the pump Americans are feeling now.

Domenici, the ranking Republican on the Energy and Natural Resources Committee, said: “It seems that the other side is going out of its way to avoid the obvious solution to high gas prices: address the fundamental supply/demand problem.”

The senator said that the country faces “economic destruction” unless it changes course.

“If you think I’m exaggerating, consider that, at today’s prices, we will be sending over a half-trillion dollars overseas per year,” Domenici added. “That’s serious money, and a lot of it is being put in the hands of hostile regimes.”

The senator said he remains hopeful that the two parties can come together to tackle the issue.
“We must challenge the Democrats to work with us,” Domenici added. “But if not, we must sell this to the American people.”