House Energy and Commerce Committee Chairman Fred Upton (R-MI) issued the following statement on President Obama's 2012-2017 offshore leasing plan that will block 85 percent of America's offshore areas from production.
"The U.S. is home to some of the largest energy reserves in the world, yet today the Obama administration announced it will lock away the vast majority of these resources for another five years. This plan essentially reinstates the offshore drilling ban that was lifted in 2008. The president's plan is a step backwards, opening no new areas for energy leasing and only further delaying domestic production projects. While the president claims to support 'all of the above,' his policies seem more accurately described as advancing 'nothing from below.'
"While we have seen some respite from rising gasoline prices, Americans are still paying almost double at the pump what they were when President Obama was inaugurated, and we are still just one natural disaster or foreign crisis away from a major supply disruption that could send prices soaring. To stabilize prices, we need a visionary, long-term supply solution. Earlier this month, the House passed a proposal with bipartisan support to remove the president's barriers to American energy production and job creation. Today's announcement underscores the urgent need for these commonsense reforms."