This afternoon, the Bureau of Ocean Energy Management (BOEM) issued its final plan for oil and gas leasing on the Outer Continental Shelf (OCS) for the five years between 2017 and 2022. In what can charitably be classified as “politics over policy,” the BOEM effectively struck the Arctic OCS from the plan—which already struck the Atlantic OCS in a prior draft—leaving only the Gulf of Mexico available for oil and gas exploration for the foreseeable future.
This was the wrong decision. The future of a strong manufacturing sector is inextricably linked to energy access. The final five-year plan ignores that reality and slams the door on promising opportunities.
Over the past decade, the United States has become the largest oil and natural gas producer in the world, benefitting consumers across the country. New technologies to produce oil and gas are fueling a manufacturing comeback, particularly in energy-intensive sectors, which use these fuels for energy and as feedstock for a wide range of industrial and consumer products.
Our energy renaissance has put millions of Americans to work and created countless new opportunities for manufacturers. Developing additional oil and natural gas resources will create jobs, grow our economy and increase American energy security. As the innovators, inventors, entrepreneurs and disruptors who are improving lives and transforming the world, manufacturers look forward to working with the next president to fix this misguided five-year plan.