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American Chemistry Council Statement: America's Energy Business Remains Unfinished

Posted on: Wednesday, 21 December 2005, 18:00 CST

ARLINGTON, Va., Dec. 21 /PRNewswire/ -- American Chemistry Council (ACC) President & CEO Jack N. Gerard today issued this statement following the U.S. Senate's rejection of ANWR energy exploration legislation.

"The decision by the U.S. Congress to deny exploration of America's energy resources in a small portion of ANWR lays bare the nation's unfinished energy agenda. And while attention has been focused on a remote area of Alaska, all of America will feel the brunt of Congress' inaction in the face of our nation's looming energy crisis.

"While opening ANWR to exploration would result in new, much needed energy resources a decade from now, American consumers and businesses are being hit today by an immediate energy problem: soaring natural gas prices and impending supply shortages. Congress must come to grips with our nation's long term and short term energy needs.

"American consumers are being shaken by skyrocketing heating bills, caused by an imbalance in natural gas supply and demand. In addition, U.S. companies over the last five years have been pummeled by climbing natural gas costs (more than 100,000 high-paying jobs in the chemistry industry alone have been lost). ANWR would supply natural gas in the future -- but that may be too late for U.S. companies and Americans who are struggling to stay afloat.

"Too much of America's own natural gas is held hostage by old laws that Congress has the power to change. Congress should make better use of American resources, including deep sea exploration of America's own natural gas resources. New supplies of deep sea natural gas is a necessary part of a balanced energy policy, including energy efficiency, new and diverse energy sources and upgrading the nation's aging energy infrastructure.

"The U.S. House of Representatives and Senate are considering legislation that would allow America to access its own natural gas resources, while using the most advanced technology to protect our environment. This legislation would send an immediate, strong signal to the markets and help bring down natural gas prices.

"Americans should not pay exorbitant prices based on old policies that do not make sense in the 21st Century. Congress should act quickly to increase natural gas supply to bring relief to all Americans."

http://www.americanchemistry.com/newsroom

The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care, common sense advocacy designed to address major public policy issues, and health and environmental research and product testing. The business of chemistry is a $520 billion enterprise and a key element of the nation's economy. It is one of the nation's largest exporters, accounting for ten cents out of every dollar in U.S. exports. Chemistry companies are among the largest investors in research and development. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure.

American Chemistry Council

CONTACT: Chris VandenHeuvel of the American Chemistry Council,+1-703-741-5587, chris_vandenheuvel@americanchemistry.com

Web site: http://www.americanchemistry.com/

Source: PRNewswire

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