For a More Prosperous, Competitive Nation: Offshore Drilling

By February 26, 2009Energy

Prepared testimony from Wednesday’s hearing of the House Natural Resources Committee, “Offshore Drilling: Industrial Perspectives.”

Witnesses:
Marvin E. Odum, President, Shell Oil Company
Lamar McKay, Chairman and President, BP America, Inc.
Larry Nichols, Chairman and Chief Executive Officer, Devon Energy Corporation
Tim Cejka, President, ExxonMobil Exploration Company
Gary Luquette, President, Chevron North America Exploration and Production Company
Karen A. Harbert, President & CEO, Institute for 21st Century Energy, U.S. Chamber of Commerce

Nichols testified not just as chairman of Devon but also as chairman of the American Petroleum Institute. His statement was also endorsed by the American Exploration & Production Council, Independent Petroleum Association of America, International Association of Drilling Contractors, National Ocean Industries Association, Petroleum Equipment Suppliers Association, and the US Oil & Gas Association.

His conclusion:

What the nation needs is a policy that increases, not decreases, domestic energy production. Offshore development is a vital component of U.S. energy development. Barriers to offshore oil and natural gas production contribute to volatile energy prices, slower economic growth, lost American jobs and a weakened U.S. position in global markets. We need to find and develop our offshore oil and natural gas resources in an orderly, efficient, and environmentally sound way. By so doing, we can put America on the road to economic recovery and help ensure our nation’s energy security for decades to come.

 

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