FOR IMMEDIATE RELEASE - February 25, 2009 Contact: Matt Letourneau 202-463-5945
WASHINGTON, D.C.-Karen Harbert, president and CEO of the U.S. Chamber of Commerce Institute for 21st Century Energy, today told lawmakers that a comprehensive energy approach that includes more domestic production offshore is the only way to meet our nation's energy challenges.
"Those who would say that we can attain energy security without oil are as incorrect as those who would say that we can drill our way out of our current energy challenges," said Harbert. "The only way we can effectively meet our energy demands is with an approach that includes a myriad of sources—including oil, gas and renewables."
Testifying before the U.S. House of Representatives Committee on Natural Resources, Harbert stressed that it is in America's best interest from an economic and national security perspective to have a stable supply of energy, including oil and gas, and thus we can no longer afford to ignore the billions of barrels that lie off shores. "The fear mongering that some engage in when it comes to expanding domestic production is neither factually accurate nor productive to a meaningful dialogue on our energy future," said Harbert.
"Between now and 2030, global demand for energy could increase by more than 50 percent," continued Harbert. "If we fail to develop the supplies needed to meet this demand, there will be catastrophic consequences for our global competitiveness, our economy, and our way of life. Despite the valuable progress being made in the development of new energy sources and technologies, there is still no viable substitute for oil."
Read Harbert's full testimony.
The mission of the U.S. Chamber of Commerce's Institute for 21st Century Energy is to unify policymakers, regulators, business leaders, and the American public behind a common sense energy strategy to help keep America safe, strong, prosperous, and clean. Through policy development, education, and advocacy, the Institute is building support for meaningful action at the local, state, national, and international levels. To read more about the U.S. Chamber's Institute for 21stCentury Energy, including the Institute's policy recommendations on offshore drilling and the need to invest in research and development for new energy technologies, visit www.energyxxi.org. The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.