ACC: Senate’s ‘FAIR Act’ Would Spur New Domestic Energy Production and Encourage American Manufacturing Growth

Contact: Warren Robinson (202) 249-6516  

WASHINGTON (March 20, 2013)The American Chemistry Council (ACC) released the following statement in response to the introduction of the FAIR Act by Senator Mary Landrieu (D-LA) and Senator Lisa Murkowski (R-AK) that would expand revenue sharing to coastal states from offshore energy production:

“The Fixing America’s Inequality with Revenues (FAIR) Act introduced today by Senators Landrieu and Murkowski is a much-needed boost to coastal states with offshore energy resources, providing greater incentives for those states to maximize their energy potential and support the resurgence in the U.S. manufacturing sector.

“The bipartisan bill would address the inequality between onshore and offshore revenue sharing and would apply to oil and natural gas development, as well as renewable energy production.

“Domestic energy production has become the engine driving America’s economy by producing thousands of new jobs and spurring billions of dollars in new manufacturing investment, including the potential for tens of billions of dollars in new chemical industry capital investment. ACC has long-endorsed a comprehensive energy strategy that encourages and develops all of America’s domestic energy resources, from increased production of natural gas to innovations that contribute to greater energy efficiency.

“As policymakers act to spur new demand for natural gas, they must also act to increase access to new sources of supply. The FAIR Act is a key step in that direction.”

“ACC applauds Senators Landrieu and Murkowski for their leadership on legislation like the FAIR Act that allows states to boost revenue, expand their investment in new infrastructure and energy technologies, maximize their domestic energy production, and support the creation of thousands of new jobs.”