The Week Ahead: Hope for Energy Prices

By February 13, 2006General

This week, we expect Sen. Mark Pryor (D-AR) to introduce legislation that would allow us to tap more of the Outer Continental Shelf than is now available. Considering 85% of it is now subject to a federal moratorium, it’s not hard to improve.

You know this all by heart: 420 trillion cubic feet of natural gas, enough to heat 100 million homes for 60 years. And, environmental risks from OCS development are almost nil. The various proposals would not allow drilling within 100 miles of Florida. Let’s see, that would put us beyond Cuba, wouldn’t it…? There’s been no major spill of anything from the OCS in a quarter century.

Natural gas prices are set locally and we are paying more than anybody in the world for it while we sit on one of the world’s largest stockpiles. We remain the only country that limits access to its own natural resources.

We’ll keep you posted on the Pryor bill, set for Wednesday. In the meantime, click here to let your Senators and Member of Congress know they need to increase domestic supply so we can begin to drive down the cost of natural gas right here at home.