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New Supplies Can Diversify Energy Mix and Help Sustain U.S. Manufacturing Revival
WASHINGTON (June 28, 2013) – The American Chemistry Council (ACC) issued the following statement today in response to House passage of the Offshore Energy and Jobs Act (H.R. 2231):
“We commend the House Leadership and Chairman Hastings for taking action to allow responsible development of America’s offshore oil and natural gas resources,” said Cal Dooley, ACC President and CEO. “This legislation will enable access to energy supplies that are currently off-limits and send a signal to energy markets that the U.S. Outer-Continental Shelf (OCS) is ‘open for business.’ It’s a key part of any true all-of-the-above national energy policy.”
“It’s exciting to see new U.S. manufacturing investment made possible by affordable, plentiful energy supplies,” Dooley continued. “As government creates new demand for natural gas in the power and transportation sectors, among others, it must ensure its policies do not prevent domestic supplies from keeping pace.”
The Administration’s current OCS policy (five-year plan for 2012 – 2017) is a step backward from its previous plan, making even less offshore acreage available for oil and gas development. Natural gas production on federal lands fell by about 23 percent since 2007. While total U.S. natural gas production rose 20 percent in that time, the Offshore Energy and Jobs Act is a much-needed course correction when it comes to OCS energy policy.
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