FOR IMMEDIATE RELEASE: January 16, 2009 Contact: J.P. Fielder (202) 463-5682
WASHINGTON, DC – Karen Harbert, executive vice president and managing director of the Institute for 21st Century Energy at the U.S. Chamber of Commerce, issued the following statement today applauding the Minerals Management Service (MMS) proposal to lease newly-available areas in the Outer Continental Shelf (OCS) for oil and gas exploration and development from 2010 to 2015. “With the nearsighted Congressional ban on oil and natural gas production off our nation’s coasts expiring last fall, we welcome MMS’s timely announcement of its updated plan for OCS oil and gas leasing. “Tapping America’s energy resources will reduce the billions of dollars we send abroad for oil imports each year, stimulate economic recovery by creating tens of thousands of jobs, and increase royalty revenues to invest in national priorities like modernizing the nation’s infrastructure. “In this time of economic uncertainty and volatile energy markets, we can no longer rule out the value of our own significant proven oil and gas reserves, nor the possibility for new discoveries on and off the shores of the United States. ”We look forward to working with President-elect Obama, Secretary-designate Salazar, and the 111th Congress to ensure these American energy resources that are so vital to America’s economic and energy well-being are made available.” The Institute for 21st Century Energy, an affiliate of the U.S. Chamber of Commerce, made the recommendation to permanently end the moratorium and accelerate oil and gas leasing on and off America’s coasts to the President-elect and 111th Congress in its Blueprint and Transition Plan for Securing America’s Energy Future. According to a recently released study from ICF International, opening all areas previously restricted could create 160,000 new jobs by 2030 and increase domestic oil production by as much as 2 million barrels per day by 2030, displacing 18% of projected oil imports. Additionally, natural gas production could increase by more than 5.3 billion cubic feet per day, displacing 61% of projected natural gas imports. Moreover, developing all oil and natural gas resources on federal lands could produce more than $4 trillion in revenue for the federal government. 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. www.uschamber.com # # # www.chamberpost.com