Interior’s Solution to Oil and Gas Development is to Drill Less

Today, the Senate Committee on Energy and Natural Resources held a hearing with regards to the Outer Continental Shelf and domestic oil and gas production. Secretary Ken Salazar testified before the Committee on a framework for “efficient and responsible” drilling. Unfortunately, Secretary Salazar, much in line with the Administration’s misguided policies, promoted those principles that will ultimately raise the price of energy for manufacturers and consumers alike. Those pillars that were endorsed by Secretary Salazar include, but are not limited to: (1) amending the Mineral Leasing Act of 1920 in order to reduce the time for oil and gas leases; (2) extending the time that the Department of Interior has for reviewing exploration plans submitted by companies; and (3) imposing fees on companies with non-producing oil and gas leases. The Interior is pushing for policies that are ultimately counterproductive and will not solve the current predicament of high energy, with little relief in sight. The policies that the Interior highlighted as their “wish list” show that the Administration is out of touch with the American consumer and the needs of the manufacturing community, who consume a third of our nations’ energy...more

If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand - Milton Friedman