Denham Statement on Natural Resources Markup Of American Energy & Infrastructure Jobs Act

2-1-2012 - Washington, D.C. - Representative Denham today issued the following statement on today’s Natural Resources Full Committee mark up of the energy portions of the American Energy & Infrastructure Jobs Act (H.R. 7):

“In the Valley there is no denying that gas prices are too high and major infrastructure projects are needed immediately. The American Energy & Infrastructure Jobs Act allows us to utilize the natural resources we have here at home to pay for much needed infrastructure projects, while also decreasing gas prices and putting people back to work,” said Congressman Jeff Denham, Member of the Natural Resources Committee and Subcommittee Chair on the Transportation and Infrastructure Committee.

NOTE: Tomorrow, the Committee on Transportation & Infrastructure will consider a long-term reauthorization and reform of federal surface transportation programs, the other portion of the American Energy and Infrastructure Jobs Act.

NOTE: The energy portion of the American Energy and Infrastructure Jobs Act, considered by the Committee on Natural Resources today, includes:

• · Offshore Energy Production. The bill will require the Administration to move forward with new offshore energy production in areas containing the most oil and natural gas resources – including the Atlantic Coast, Pacific Coast and portions of the Eastern Gulf of Mexico. It requires the Secretary of the Interior to conduct oil and natural gas lease sales in the Gulf of Mexico and offshore Virginia that have been delayed or cancelled. It establishes fair and equitable revenue sharing for coastal states.

• · ANWR. The bill will open less than 3 percent of the Arctic National Wildlife Refuge (ANWR) in Alaska to responsible energy development by directing the Interior Secretary to establish lease sales in the North Slope. The North Slope of ANWR was specifically set aside in 1980 by President Jimmy Carter and Congress for oil and natural gas development. ANWR contains approximately 10.4 billion barrels of oil and at peak production could supply the U.S. with up to 1.45 million barrels of oil per day.

• · Oil Shale. The bill will create new American jobs by setting clear rules for the development of U.S. oil shale resources and promoting shale technology research and development. It directs the Secretary of the Interior to issue additional Research, Development & Demonstration (RD&D) and commercial leases and makes permanent the Resource Management Plan amendments and commercial oil shale regulations published guidelines by the Department in November 2008.