Heritage Expert on Dept. of Interior's Offshore Drilling Announcement

Heritage Expert on Dept. of Interior's Offshore Drilling Announcement

Jan 4, 2018 1 min read

Following the Department of the Interior's announcement that it will seek to open additional U.S. land and offshore sites to oil and gas exploration and drilling, Heritage environmental policy expert Nick Loris issued the following statement:

“Today, the Department of Interior (DOI) took an important step forward in the pursuit of American energy dominance. With its new offshore drilling proposal, the DOI begins the process of reversing the previous administration’s “Keep it in the Ground” anti-energy policy. An abundance of untapped energy lies beneath American lands and off her coasts. For six years, the United States has been the world's largest petroleum and natural gas producer, despite the fact that the Obama administration placed a majority of America’s coastal waters off-limits to natural resource exploration and production.

Opening access for energy development offshore and implementing an efficient regulatory process will help create jobs and lower energy prices for households and businesses. Furthermore, federal and state governments stand to benefit, as increased production would increase revenues from royalties, rents, increased economic activity, and bonus bids for new leases. As a country burdened with massive amounts of federal debt, policymakers should welcome the opportunity to bring in more money.

The market can and should determine what areas the oil and gas industry will pursue. The federal government should not stand in its way.”

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