mr. chairman , i thank the gentleman from texas ( mr. barton )  for yielding me this time .  the gentleman has done a magnificent job leading the committee on this new bill .  i would just say , in america we face some great challenges with regard to formulation of our energy policy .  the oil demand growth keeps rising due to the industrialization of the emerging world .  china consumes 7 million barrels per day ; and if china 's rise in world prominence is similar to that of korea and japan , china will consume 20 million barrels per day in less than 10 years .  the last big oil discovery was 30 years ago in the north sea .  china is trying to buy oil companies in canada ; india is trying to buy oil companies in russia ; the present world production capacity is 83 million barrels a day ; and we are running an estimated 81.5 million today , which means we are in the red zone .  the 14 largest oil fields in the world are 40 years old .  once they are taken out to 50 percent , water and fluids need to be pumped to keep production at existing levels .  we have some significant challenges .  support this bill .  