U.S. CHAMBER OF COMMERCE

Energy Institute Statement on Obama Administration's Continued Ban on Offshore Exploration

Energy Institute Statement on Obama Administration's Continued Ban on Offshore Exploration

WASHINGTON, D.C.—In response to today’s announcement by the Obama administration that the Eastern Gulf of Mexico, Atlantic, and Pacific coasts will be excluded from the Department of Interior’s upcoming Five Year plan, Karen Harbert, president and CEO of the U.S. Chamber’s Institute for 21st Century Energy, issued the following statement:

“Today’s reported announcement by the Obama administration that the Eastern Gulf of Mexico, Atlantic, and Pacific coasts will be excluded from the upcoming Five Year offshore exploration plan represents a major step backward for the security of America’s energy future.

“The decision comes on top of the de facto moratorium the administration has imposed on production in both deep and shallow waters in the Gulf and Alaska, which is already causing significant harm to our economy and our energy security.

“By continuing to keep most of America’s abundant oil and natural gas resources under lock and key, the Obama administration is ensuring that we will continue to increase our dependence on foreign oil, which threatens our national security.

“In addition, this decision will cost us many thousands of well-paying jobs that would have been created both directly and indirectly in regions that badly need them, making this a major lost opportunity for our economy.  It is ironic that the administration is willing to forgo a significant new stream of revenue at a time when leaders on both sides of the aisle are seeking ways to address our rapidly ballooning deficit.

“The administration is sending a message to America’s oil and gas industry:  take your capital, technology and jobs somewhere else.”

The mission of the U.S. Chamber of Commerce's Institute for 21st Century Energy is to unify policymakers, regulators, business leaders, and the American public behind a common sense energy strategy to help keep America secure, prosperous, and clean. Through policy development, education, and advocacy, the Institute is building support for meaningful action at the local, state, national, and international levels.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

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