New OCS Legislation Raises Hopes for Lower Energy Prices

By February 16, 2006Energy

As we mentioned on Monday, Sens. Mark Pryor (D-AR) and John Warner (R-VA) yesterday introduced a bill that would expand access to natural gas resources along the Outer Continental Shelf (OCS). It not only will open development to an area called, “Lease Sale 181“, along the central and eastern Gulf, but it also gives the states along the Atlantic and Pacific coasts of the US the option of developing their offshore resources. What a concept. No more Uncle Sam dictating to the locals.

One more time, gang, for emphasis: We pay the highest prices in the world for natural gas, prices that are set locally, not globally. We are the only country in the world that restricts access to its natural resources. And there are 420 trillion cubic feet of natural gas in the OCS. Why wouldn’t we tap it? It can be done so that the impact on the environment is nil. Policy hasn’t caught up with technology here. We’re still fighting old ghosts.

Drop a note to your Representatives and tell them to support the Pryor-Warner bill. This is one bill that definitely will impact your bottom line in that it will begin to drive down the price of natural gas. We’re trying to compete here, don’t need a federal moratorium on natural gas exploration to make it any harder.

Here’s a link to our press release from yesterday, applauding introduction of the bill.