Jennifer Scott (202) 249-6512
December 1, 2010
New Policy At Odds with Administration's Economic and Export Growth Goals
WASHINGTON, D.C. (December 1, 2010) - The American Chemistry Council today reacted with concern and dismay to the Obama Administration's new offshore energy policy that excludes key domestic resources from its proposed Five-Year Outer Continental Shelf Oil and Gas Leasing Plan. The new policy, announced by U.S. Department of the Interior (DOI) Secretary Ken Salazar, reverses earlier plans to allow oil and natural gas development off the Atlantic Coast and in the eastern Gulf of Mexico in the 2012-2017 time period.
"Affordable domestic energy drives economic growth and helps keep consumer costs down, but with this announcement the White House has essentially thrown that economic engine in reverse," said
, President and CEO of the American Chemistry Council. "What's worse, the refusal to tap vast amounts of America's own energy supplies will hurt us today and decades into the future when new drilling would start to bear fruit. "
"America needs a balanced energy policy that utilizes all energy sources to meet growing demand and ensure manufacturers can remain competitive around the world," Dooley continued. "By essentially striking one major energy source from the list, the administration has put America's energy security at risk."
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