July 9, 2015
This week, Congress will consider amendments to H.R. 2282, FY 2016 Interior, Environment, and Related Agencies Appropriations Bill. An amendment offered by Rep. Sanford would prohibit funds from being used for oil and gas lease sale 260 as proposed in the Draft Proposed Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022.
The draft plan released earlier this year included lease sale 260, which could open up new areas for development along the mid-Atlantic region. The Bureau of Ocean Energy Management (BOEM) estimates that the Mid-Atlantic region holds 8-9 billion barrels of oil equivalent. Those estimates are likely on the low end due to the use of older data and technology used to make the estimate.
While there is still a long way to go before this area could be producing resources, the proposed plan is a step in the right direction. Lease sale 260 will lead to economic growth not only in those states in the region, but also throughout America. A recent study by the South Carolina Palmetto Policy Forum found that opening up energy exploration in the Atlantic could create up to 170,000 job equivalents and generate more than $13 billion in economic activity by 2035.
Increased energy production will lead to lower energy prices, more jobs, and greater energy security. This amendment would stymie economic progress in South Carolina and across the country.
The American Energy Alliance urges members to vote NO on the Sanford amendment. It will be included in our American Energy Scorecard. NO is the pro-energy, pro-taxpayer, pro-economy vote.
Sanford (R-SC) – Prohibits funds from being used for oil and gas lease sale 260 included in the Draft Proposed Outer Continental Shelf (OCS) Oil and gas Leasing Program for 2017-2022 (DPP), or in any subsequent proposed or final iteration of such program.