Natural Resources Committee Press Release U.S. Rep. Don Young, Ranking Member

Contacts:             Steve Hansen (Republican Communications Director)                   (202) 225-7749

                                Meredith Kenny (Communications Director/Rep. Don Young)  (202) 225-5765

October 2, 2008

New Energy Report Finds U.S. Domestic Production Could Provide 179 Years Of Oil & 495 Years Of Natural Gas Supplies

“The only question is will the American people push the leaders of Congress to finally join us in developing these domestic resources.” – U.S. Rep. Don Young

Washington, D.C. – A new committee report released today found that the domestic conventional and unconventional oil and gas resources could provide the United States with more than 179 years of oil and 495 years of natural gas at current rates of consumption.

U.S. Rep. Don Young (R-Alaska), the Ranking Member of the House Natural Resources Committee, released the report - “America’s Energy Supply: American Innovation Creating American Energy, American Jobs, and American Wealth” which  reviewed the conventional and unconventional oil and gas resources technologically available in America today.  (See attachments)

“America’s energy holdings are staggering – 179 years of oil and 495 years of natural gas,” Young said.  “The only question is will the American people push the leaders of Congress to finally join us in developing these domestic resources.

“My home state of Alaska contains billions and billions of barrels of oil and untold natural gas resources and we are willing to develop them.  I have long called for opening our domestic energy resources, like ANWR, and this new ‘America’s Energy Supply’ report proves we could be free of foreign oil if we get serious about developing our nation’s own resources.

“The report provides us a roadmap on the resources that can free America from our alarming dependence on foreign oil and natural gas.  By doing so, we can provide a tremendous boost to America’s economy and create hundreds of thousands of new American jobs.  And this doesn’t even include our commitment toward the development of renewable and alternative forms of energy.

“It is, however, alarming that many in Congress continue to call the expansion of drilling for oil and natural gas in the Outer Continental Shelf a ‘hoax’ and unnecessary.  The truth is that America needs to immediately begin to produce our vast oil and natural gas reserves.

“The report clearly shows that America’s supply of both conventional oil and natural gas, and the future development of tar sands, oil shale, and methane hydrates can supply America with steady energy for hundreds of years and many generations to come.

The “America’s Energy Supply” report was prepared by Republican staff of the Natural Resources Committee using information compiled from federal agencies, independent organizations, and the Congressional Research Service.  The report reviews conventional oil and gas development on and offshore, recent technological advancements, and resources on the verge of production development.

For more information, access the Committee on Natural Resources’ Minority website at:

http://republicans.resourcescommittee.house.gov/default.aspx

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