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U.S. Rep. Latham: Co-Sponsors Legislation That Would Increase Domestic Oil Production
7/21/2008

Contact: Fritz Chaleff, 202-225-5476
More Info:www.tomlatham.house.gov

Latham Continues Work to Lower Gas And Energy Prices for Iowa Families

Co-Sponsors Legislation That Would Increase Domestic Oil Production

Washington, D.C.—While Iowans continue to take a hit on their family budgets from high gas and energy prices, Congressman Tom Latham is continuing his work to lower gas prices by increasing the domestic supply of oil. Following through on his commitment for America’s energy independence, Latham became a co-sponsor of legislation that will both end the moratorium on drilling off American coasts and allow for states to drill for oil and natural gas. This legislation ultimately increases America's petroleum and natural gas supplies while decreasing the price of gas, thereby reducing our nation's dependence on foreign oil.

"Americans are rightfully fed up because their leaders in Washington have absolutely failed them on this issue," said Latham. "Gasoline, diesel, and other energy costs are at price levels never seen before in our history, and our families are hurting over this. I am committed to forcing a wake up call on the leadership of Congress that we must act now to increase the supply of energy resources that we control here at home and lower the price at the pump.”

The legislation Latham has co-sponsored, the Deep Ocean Energy Resources Act (H.R. 6108), if passed, would open up 85 percent of the outer continental shelf (OCS) to energy development. Currently there are two moratoriums on drilling in the OCS which prohibit energy development in waters from three miles off our coastline to waters beyond 200 miles off our coasts; H.R. 6108 would end these moratoriums. In 2006, the US Department of the Interior estimated there to be 8.5 billion barrels of oil and 29.3 trillion cubic feet of natural gas in the OCS. The potential for another 86 billion barrels of oil and another 420 trillion cubic feet of natural gas has been classified as undiscovered resources.

In the meantime, while this bill sits in committee waiting for a vote, Cuba is has enlisted China as a drilling partner in the Florida Straits. The United States is the only country in the world that prohibits energy production on its OCS.

"Each day in this nation 85% of our energy comes from fossil fuels, and that needs to change. I have always been, and will continue to be, a strong supporter of alternative energy research and production, but we need to turn our attention to the immediate need of increasing our domestic supply of affordable fuel that gets Iowans from point A to point B without busting their family budget. We need affordable diesel to transport goods across Iowa and allow farmers to run their tractors. We need affordable natural gas for fertilizer, and propane for rural homes. We will eventually be able to turn to alternative energy sources as the majority source of energy in this nation. But that is not a reality today, and until that day comes, we need to find solutions that increase the supply and reduce the price of gas and fuel in a safe and responsible manner."

More than two-thirds of American citizens support lowering gas prices by increasing use of our current resources, to include off-shore drilling and drilling in ANWR.

The legislation also includes a provision to create the National Geo Program, which creates a grant program to fund the development of renewable energy from ocean waves, currents, and thermal resources. The National Geo Program would also provide grants to help with the engineering of coal-to-liquids (gasoline and diesel) programs, oil shale and tar sand extraction, and, in Alaska, a program to turn natural gas into diesel fuel.

Latham’s work on this bill comes on the heals of his work on another, the American Energy Independence and Price Reduction Act (H.R. 6107), which will open up 2,000 acres of the 19 million acre area known as ANWR for safe and responsible energy development via increased oil production. According to the Ranking Member of the House Natural Resources Committee, Don Young, who represents Alaska in Congress, these 2,000 acres contain an estimated 10.4 billion barrels of oil.


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