Chamber Urges Congress to Reinsert Energy Exploration Provisions

Into Budget Reconciliation

WASHINGTON, D.C.—The United States Chamber of Commerce expressed strong disappointment today that the U.S. House of Representatives stripped provisions from its budget reconciliation bill that would allow environmentally-sensitive exploration of much-needed energy resources in the Arctic Natural Wildlife Refuge (ANWR) in Alaska and in the Outer Continental Shelf (OCS) off the gulf coast.

"This was an irresponsible action at a time when energy prices are creating such a dramatic strain on our economy and on our citizens," said Bruce Josten, Chamber executive vice president for government affairs. "Congress can't have it both ways—they can't complain about our reliance on foreign oil and price spikes and then do nothing to increase domestic production. With continued instability in the Middle East and our nation's own energy infrastructure still recovering from two major hurricanes, now is the time for the United States to take control of its energy future."

ANWR contains enough recoverable oil—an estimated 10.4 billion barrels—to equal about 50% of the amount of oil we currently import from the Persian Gulf. Every barrel of oil produced at home is one less barrel imported from countries that may not have America's security in mind, according to the Chamber.

The amount of energy resources in the OCS is vast—an estimated 420 trillion cubic feet of natural gas and more than 77 billion barrels of oil. The natural gas that is located on the OCS off the lower 48 states alone would satisfy all industrial and commercial needs for almost 30 years. The projected amount of oil would provide a 15-year supply of gasoline for 116 million cars and heating oil for 47 million homes.

"America is rapidly exceeding the ability to develop and deliver adequate energy supplies to meet our nation's needs," said Josten. "Congress needs to pursue ways to reduce America's dependence on foreign energy, create jobs, and continue our economic growth. Congress must put America's economic and energy security first and permit exploration and development of ANWR."

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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