U.S. Sen. Jim Inhofe (R-Okla.), senior member of the Senate Environment and Public Works (EPW) Committee, today made the following statement in response to a study released by the Energy Information Administration (EIA) that shows significant increases in recoverable shale oil and natural gas reserves:
"The Energy Information Administration report released earlier today revealed that technically-recoverable shale reserves have increased by 81 percent since the agency's estimate in 2011. This enormous increase comes as no surprise to me or Oklahomans, as we have been at the center of the domestic energy revolution for decades. Because of this we have one of the lowest unemployment rates in the nation. President Obama can no longer ignore the very real economic opportunities and national security dividends that will result with expanded domestic energy production. I continue my calls on the President to remove burdensome federal regulations and allow companies to increase production on federal lands to create millions of jobs and strengthen our national economy. I intend to introduce a suite of bills that will among other things enable states to override the presidents' burdensome regulations and create jobs for people in their states. This legislation makes sense because states have been effectively regulating energy production on state and private lands for a century."
The group of bills includes: The Federal Land Freedom Act, which would give states the ability to lease and permit energy development on federal lands within their borders; The FRESH Act, which would prevent the federal government from regulating hydraulic fracturing; and a bill that would streamline operations at oil and natural gas sites by exempting commercial vehicles essential for domestic energy production from unnecessary and costly Department of Transportation restrictions on the hours that a vehicle can operate which results in significant supply chain delays and cost increases for energy producers.
On May 15th, Inhofe introduced the Iran Sanctions Implementation Act of 2013 which would allow for full enforcement of oil sanctions against Iran by requiring the President to expand U.S. domestic energy production on federal lands to offset Iran's oil exports to the international community.