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For Immediate Release
January 22, 2010

WASHINGTON - While some believe that responsibly increasing supplies of American energy reserves offshore is "a hoax", a clear majority of the American people and a growing number of lawmakers in Washington understand that more homegrown energy will help stabilize prices for struggling consumers and small businesses, create jobs and drive down our dependence on foreign and unstable regions of the world to keep our economy moving.

And though overdue progress toward opening our outer continental shelf (OCS) for 21^st century oil and gas exploration has occurred, there are still significant bureaucratic hurdles to clear before the American people can access the job-creating energy reserves that Washington has kept under lock-and-key for nearly 30 years.

So how much recoverable oil and gas is considered to be locked up offshore? According to Bloomberg, a "report issued by the Interior Department found that 115 billion barrels of recoverable oil and 565 trillion cubic feet of natural gas lie along our outer continental shelf (OCS)." That's enough oil to fuel the US economy for more than 5,500 years.

Some opponents of offshore American energy production maintain that responsible exploration cannot coexist with critical military missions and trainings, especially in the Eastern Gulf of Mexico, where infrastructure is in place to deliver energy reserves quickly to the consumers and families. Senator Byron Dorgan (D-ND), armed with a new study from top military brass, believes that the two can - and must - coexist. This from the Wall Street Journal:

• Sen. Byron Dorgan, the North Dakota Democrat who sponsored the legislation to expand drilling, told reporters Tuesday that the study "provides the foundation for allowing us to proceed with" the proposal, which has been awaiting a floor vote for months.

And in today's New York Times, IPAA's chairman Bruce Vincent comments on these developments:

• "The American people overwhelmingly support these common-sense efforts, and leaders in Washington should too," said Bruce Vincent, president of Swift Energy and chairman of the Independent Petroleum Association of America.

Our nation and our economy cannot turn the fossil fuel switch off overnight. Sen. Dorgan and other like-minded leaders in Washington understand this. The New York Times reports this week that "In 2034 ... fossil fuels will supply 68 percent of the nation's energy needs, compared to 76 percent today"; and that's assuming that some form of cap-and-trade is implemented.

Independent oil and gas producers and concerned families and seniors aren't alone in their fight for affordable, secure American energy. Newspapers from communities that understand the economic benefits associated with responsible offshore energy production are weighing-in, too. In an editorial this week, the Press-Register in Mobile, Alabama writes:

• Alternative energy sources such as wind, solar and biomass are very popular on the political scene, but they currently account for a tiny percentage of energy usage. From all indications, America will remain dependent on fossil fuels until at least the middle of the century.

New drilling will spur the expansion of natural gas facilities and other energy-related industries, creating jobs and capital investment.

So, thanks to the ingenuity of the often-derided energy industry, the "drilling boom" isn't over - not by a long shot. Americans worried about the price and availability of oil and natural gas should be grateful for that.