As the price of gasoline hits an all-time high, many Americans are worrying that they cannot afford a family vacation this summer. Families, individuals and businesses all feel the pinch at the pump. Some of my colleagues in Congress are eager to blame our nation's energy suppliers, but raising taxes on the profits of energy companies will not lower prices. A comprehensive, long-term and bipartisan solution is needed to ensure a safe and reliable energy supply and reduce our dependence on foreign oil. Our national and economic security depend upon it.

Over 60 percent of our crude oil is imported from foreign countries, and many of those countries are hostile to the interests of the United States. Venezuelan President Hugo Chavez has promised to use his "strong oil card" to "finish off the U.S. empire," even if that means colluding with Iran and other nefarious regimes. Reliable energy is too important to the success of our economy to be tied to the whims of some dictator thousands of miles away. If we truly want to be energy independent, we need to expand domestic production of all energy sources-alternative technologies and renewable energy as well as traditional oil and natural gas. Imposing restrictions on supply while international demand rises leads to higher prices. This is a simple lesson from Economics 101 that is apparently lost on many politicians.

America is blessed with bountiful reserves of oil and gas in areas such as the Alaskan National Wildlife Refuge (ANWR) and Outer Continental Shelf. As the Washington Post noted, "the nation needs to be as willing to explore off its own shores for the resources it needs as it is to import them from abroad." Under a plan issued by the Department of the Interior, potential production in the Gulf of Mexico, Atlantic Ocean and off the coast of Alaska could equal 20 years worth of what we import from Saudi Arabia or Venezuela.

Unfortunately, political demagoguery has thwarted our attempts at energy independence. If President Clinton had signed a law passed by Congress for energy exploration in ANWR a decade ago, we would now be producing over 1 million additional barrels of domestic oil each day, a 20 percent increase over current levels. With today's advanced technology, we can explore these rich sources of energy using only a small portion of surface land, thereby protecting our environment and wildlife in ANWR. In addition, we must expand our refining capabilities to fully convert these natural resources to usable energy. The American downstream energy industry is working hard in this regard and will add over 1.9 million barrels per day of new refining capacity by the year 2012.

Conservation and new energy technologies are also crucial aspects of an effective and balanced energy plan. Texas is a leading adopter of alternative energy solutions and boasts the nation's highest wind power production and the most alternative fuel vehicles on the road. We are also leading the charge in the development of cellulosic ethanol made from grass and biodiesel made from soy. These crop-based alternatives draw upon renewable resources that are abundant in Texas. As consumers increasingly seek cars with better gas mileage, automakers produce more fuel-efficient products to meet demand. I have introduced legislation in the Senate to amplify the federal government's efforts in alternative energy research and development. The last Congress streamlined the regulatory process to encourage more investment in nuclear power plants, which with better technology are our cleanest and most efficient energy source and produce significantly less waste than ever before.

Our nation's energy policy is stuck in the era of bellbottom pants and platform shoes, and we are long overdue for a change. However, we cannot combat climbing prices without a plan for increased domestic production of traditional oil and gas and alternative resources. Such a plan would also put us in charge of our own economic security, rather than relying on suppliers that seek to harm our country. Congress must act, but not with knee-jerk penalties for the firms that help drive our booming economy. American ingenuity has always solved our toughest problems, and we must put it to work in this arena. Alternative energy sources, conservation and responsible use of our domestic resources will provide affordable energy for our families and businesses.