By Nick Snow
Washington Editor
Expanded oil and gas activity on the US Outer Continental Shelf would produce substantial economic and energy security benefits, three witnesses told a US House Natural Resources subcommittee. But a fourth witness said alternative energy and other offshore industries should also be allowed to grow.
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Christopher Guith, vice-president for policy at the US Chamber of Commerce's Institute for 21st Century Energy, said in his written statement that HR 2231 is necessary because more than 86% of the US OCS is presently off-limits to oil and gas activity.
Systematic increase
"By increasing access to the OCS and establishing long-term production targets for the [US} Department of the Interior to plan around when formulating oil and gas leasing programs, the country can begin to systematically increase its energy security and reap the economic benefits that entails," Guith suggested in his written testimony.
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Read the full article at Oil & Gas Journal.