WASHINGTON, D.C.—Karen Harbert, president and CEO of the Institute for 21st Century Energy at the U.S. Chamber of Commerce, issued the following statement regarding today’s release of a new Five Year Plan for offshore oil and gas exploration by the Obama administration: “It is encouraging that the Obama administration has recognized that tapping America’s vast oil and gas reserves must play a critical role in enhancing our energy security and creating jobs. Yet the new 2012-2017 Five Year Plan on oil and gas leasing appears to be a smaller step forward than what is needed. “The administration scuttled the Interior Department’s January 2009 plan which would have allowed exploration to go forward immediately in far more areas. The plan released today still leaves billions of barrels of American oil and significant reserves of natural gas under lock and key, including some of the most productive areas of exploration. “The new plan does create the potential for new areas of exploration on the Outer Continental Shelf. But at this stage, that’s all it is—potential. Much of what is promised is many years away, subject to more study and Congressional action. What is needed today is urgent action, not analysis. “And what is certainly not needed is the $80 billion in new taxes and fees on oil and gas companies that the administration has proposed. We urge Congress to reject those new taxes, and to do what it can to open up more areas of exploration. “We will continue to work with the administration and Congress to enact a comprehensive, common-sense energy policy for the benefit of all consumers.”
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 secure, 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.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.