U.S. Chamber Chief Calls on Congress to Boost Domestic Energy Production

U.S. Chamber Chief Calls on Congress to Boost Domestic Energy Production
Needed to Increase Supply, Ease Pressure on Oil Prices

WASHINGTON, D.C.-U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement on record-high oil and gas prices:

"Sky-high oil and gas prices are socking Americans right in their pocketbooks. Many of the elderly and the poor are being forced to choose between filling their tanks with gas or their cupboards with food. It's time for Congress to stop wringing its hands and start acting. If Congress is serious about increasing supply, easing pressure on prices, and reducing our dependence on foreign oil, it can take one simple step-allow energy explorers to tap into America's huge reserves of oil and natural gas in an environmentally responsible way.

"Over the years, Congress has locked away vast untapped domestic energy resources offshore, on federal lands, and in the Arctic National Wildlife Refuge. These restrictions have been imposed by politicians who frequently call for 'energy independence.' Federal lands alone are estimated to contain 187 trillion cubic feet of natural gas and 21 billion barrels of oil. That's enough natural gas to supply all of America's households for 39 years and enough oil to cover 30 years' worth of current imports from Saudi Arabia.

"Of course, there are many other steps we must take to decrease demand, such as improving efficiency, building modern and safe nuclear plants, and investing in renewables and other alternative fuels-we need to do all of them. But increasing domestic production is something we can do now with proven technologies. We can do it in a way that protects the environment. We can do it in a way that provides real relief to Americans who are hurting economically. And we can create thousands of new, good-paying jobs in the process. Instead of sending billions of dollars to foreign oil producers, wouldn't it be better to take control of our energy future and keep our money at home?

"It's time to unlock America's natural energy resources. It's time to give our citizens a real energy plan that will deliver real results. It's time to take control of our energy future."

The U.S. Chamber of Commerce is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

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