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Rahall Urges More Oil and Gas Production in Areas Already Open to Drilling |
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June 18, 2008
CONTACT: Allyson Groff or Blake Androff, 202-226-9019
Washington, D.C. - House Natural Resources Committee Chairman Nick J. Rahall (D-WV), responding today to the announcement made by President Bush that more offshore areas must be opened to oil and gas drilling, released the following statement:
"At present, 81 percent of estimated oil and gas resources on federal lands both onshore and offshore are available for development or will be pending the completion of land-use planning or environmental reviews. If the oil industry would drill those areas now, areas that are available for them to drill in now, today, the amount of oil produced would represent over 14 years of current U.S. consumption, and 30 years of current domestic natural gas consumption.
"Yet, we have found that the oil industry is sitting on 68 million acres of federal oil and gas leases, the size of Colorado. They are stockpiling them. Opening up even more areas only gives them an opportunity to speculate even further. It is like your children trying to eat their dessert before the main course. The oil industry needs to drill what they have now, drill in those areas available to them, and then we will talk about giving them dessert."
Rahall recently introduced the Responsible Federal Oil and Gas Lease Act of 2008 (H.R. 6251), which compels oil and gas companies to produce on the 68 million acres of federal lands, both onshore and offshore, that are leased but sitting idle. The legislation is co-sponsored by Reps. Rahm Emanuel (D-IL), Maurice Hinchey (D-NY), Ed Markey (D-MA) and 27 other Members.
The legislation, which gives Big Oil one option - either "use it or lose it", is a direct response to the facts outlined in the recent House Natural Resources Committee Majority Staff report, "The Truth About America's Energy: Big Oil Stockpiles Supplies and Pockets Profits", and the follow-up report, "Drilling Facts", that illustrate how energy companies are not using the federal lands and waters that are already open to drilling.
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