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SAFE: Expanded Domestic Production Crucial Part of Any Energy Legislation

Posted on: Tuesday, 10 February 2009, 16:29 CST

WASHINGTON, Feb. 10 /PRNewswire-USNewswire/ -- Securing America's Future Energy (SAFE) emphasized to Congress and the Obama Administration that increased domestic production of oil and natural gas must be a critical component of any comprehensive energy security strategy. SAFE's statement came in the wake of today's announcement by Interior Secretary Ken Salazar that the Obama Administration had extended for six months the public comment period on the Bush Administration's draft plan for 2010-2015, which outlined lease offerings in previously off-limits areas of the U.S. Outer Continental Shelf for oil and natural gas production.

"Last year, as oil and gas prices skyrocketed to record highs, leaders in both political parties for the first time appeared to agree that expanding offshore production was a crucial element to a comprehensive energy security package," SAFE President and CEO Robbie Diamond said. "Now, even though energy prices have receded, we cannot allow that sense of urgency to subside. Comprehensive energy reform remains absolutely critical to our national security and our economic prosperity, and increased domestic production must remain on the table as part of that reform. Today's announcement by the Obama Administration gives Congress the opportunity to take up this complex question and deal with such important issues as offshore access, revenue sharing, royalties, and boundaries."

Today's action by the Obama Administration extends the public comment period on the issue of offshore production for six months, during which time the Department of the Interior will study the matter further.

"Increasing our domestic production of oil and natural gas is only one component of a comprehensive solution to our energy security vulnerabilities," Diamond added. "We cannot drill our way out of oil dependence, but increased domestic production of conventional energy sources can help to protect our economy and our national security as we work toward the long-term solutions that will ultimately end our destructive dependence on oil. These are issues Congress must take up as part of a comprehensive energy package. The Obama administration has made it clear that they support a comprehensive approach to energy security, as have congressional leaders in both parties. We applaud that. Now, it is time to get to work."

Securing America's Future Energy (SAFE) is an action-oriented, nonpartisan organization that aims to reduce America's dependence on oil and improve U.S. energy security to bolster national security and strengthen the economy.

SOURCE Securing America's Future Energy

Source: PR Newswire

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