• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

NPRA Comments on Passage of OCS Amendment By House Appropriations Committee

Posted on: Wednesday, 10 May 2006, 18:07 CDT

NPRA, the National Petrochemical & Refiners Association, released the following statement on the House Appropriations Committee approval today of an amendment to the FY07 Interior spending bill offered by Rep. John Peterson (R-PA) that would lift a 25-year-old congressional ban on offshore natural gas exploration.

NPRA President Bob Slaughter said: "The House committee vote to lift the moratorium on offshore gas production brings good news indeed to the petrochemical industry and, in fact, to all consumers. Studies indicate that offshore natural gas could provide the United States with 633 trillion cubic feet of natural gas - about 25 years of natural gas supply. In order to meaningfully address the nation's natural gas supply/demand imbalance, Congress and the Administration must act now to support greater supply of these resources in the mid- and long-term. This initiative provides a significant foundation for this objective. The Appropriations Committee members who supported opening the OCS (Outer Continental Shelf) to gas exploration and production have taken concrete action to provide for America's economic future and national security. NPRA hopes that the full House of Representatives and the Senate will follow suit as quickly as possible."

NPRA members include more than 450 companies, including virtually all US refiners and petrochemical manufacturers.

Source: Business Wire

More News in this Category