November 14, 2011The Honorable Harry ReidSenate Majority LeaderUnited States SenateWashington, D.C. 20510The Honorable John BoehnerSpeaker of the HouseU.S. House of RepresentativesWashington, D.C. 20515Dear Majority Leader Reid and Speaker Boehner:
The U.S. oil and natural gas industry is a vital part of our nation’s economy. It supports millions of
American jobs and delivers billions in annual revenue to our government. Last year, it directlycontributed more than $470 billion to the U.S. economy in spending, wages and dividends, and it is oneof the few industries that have been creating jobs throughout the recession and ongoing nationaleconomic downturn.Our industry can create even more jobs and generate far more revenue if allowed to responsibly developand produce here in the United States more of the oil and natural gas we need. However, moredevelopment
–
especially on public lands and federally controlled waters
–
requires that industry andgovernment share a vision of the potential benefits and act as partners to fully realize them. We believe
the U.S. Department of the Interior’s recent proposal for developing our offshore oil and natural gas
over the period 2012-2017 acknowledges only a small fraction of that potential. It imposes unnecessarylimits on what we could and should be doing to secure more domestic energy for our future.Potentially very large oil and natural gas resources in the Atlantic, Pacific and Eastern Gulf of Mexicowere left out of the departmen
t’s plan. Comments from the department suggest this was at least in part
because accurate, updated estimates of the resource potential in those areas are not available. That
argument, however, presents a “Catch
-
22.” Information on the resource potential
in these areas is oldand incomplete. Yet without the possibility of a lease sale, companies will not invest in the costlyexploratory work needed to get more accurate and comprehensive data.News reports cite Department of Interior claims that more oil and natural gas are being produced,suggesting current government energy policies are working. While oil and natural gas production is
Jack N. Gerard
President & Chief Executive Officer1220 L Street, NWWashington, DC 20005-4070USATelephone (202) 682-8500Fax (202) 682-8110Email gerardj@api.orgwww.api.org
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