Lampson Proposes Domestic Drilling With a Twist

Press Release

Lampson Proposes Domestic Drilling With A Twist

Innovative domestic drilling legislation was introduced today by Rep. Nick Lampson, D-Stafford, that will increase oil supply and invest in alternative energy research. Rep. Lampson's proposal goes beyond previous plans to increase domestic drilling because it seeks to diversify America's energy infrastructure by investing in clean domestic renewable energy.

"Personally, I prefer the oil we're using to power America comes from America; and benefits our economy, not foreign economies," said Rep. Lampson, an oil-patch Democrat. "Drilling, alternatives and everything in-between must be on the table if America hopes to find a sensible solution to our energy crisis; that's the type of result I'm promoting."

The Domestic Drilling Act removes moratoriums prohibiting the outer continental shelf (OCS) and Arctic National Wildlife Refuge (ANWR) from being used for drilling and oil exploration. Opening ANWR to energy exploration will increase domestic oil production that will drive down the price of gas for consumers while providing for America's energy security.

The Minerals Management Service estimates that 86 billion barrels of undiscovered oil and 420 trillion cubic feet of natural gas are sealed in Outer Continental Shelf within reach of modern extraction capabilities. Additionally, the Arctic National Wildlife Refuge contains an estimated 10.4 billion barrels. The potential royalties gained through leases are expected to be over $2.6 trillion.

Tax free revenue generated through oil and natural gas royalties are directed by this bill to be used to promote research and development for clean domestic energy and renewable energy. Providing funding to explore alternatives to traditional sources for energy will expedite America's path to energy independence and security while creating new energy industries to grow the nation's economy.

"Alternative clean energy is the way of the future and the solution to our energy problem; which is why I'm leading the charge to see that Houston maintains its position as the energy capital of the world during the transition," said Rep. Lampson. "We can't just flip a switch and be free of our need for oil this bill recognizes that fact by providing for traditional and non-traditional energy exploration."

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