June 20, 2008 -
Praising President Bush for urging Congress to lift legislative ban on offshore drilling on Outer Continental Shelf, NAM said his call to utilize oil shale, open ANWR to exploration, and expand refinery capacity is right on target. NAM also advocates expanding nuclear power generation, streamlining siting and permitting of new and expanded domestic refineries, and strengthening and renewing expired R&D Tax Credit to expedite domestic development of energy and fuel technologies.
NAM Praises President for Urging Congress to Lift Drilling Ban on Outer Continental Shelf
Manufacturers Also Support Other Initiatives Outlined by the President
WASHINGTON, D.C., June 18, 2008 - The National Association of Manufacturers (NAM) today praised President Bush for pressing Congress to lift the legislative ban on offshore drilling on the Outer Continental Shelf (OCS) and said his call to utilize oil shale and open ANWR to exploration and expand refinery capacity is "right on target."
"America is facing a significant energy shortage and crisis," said Jay Timmons, NAM Executive Vice President. "We urge the executive and legislative branches, Republicans and Democrats alike, to step forward in a positive, bi-partisan way to help ease the problem. The President's message today is right on target, and Congress should act immediately on his proposals.
"Manufacturers have been pressing Congress and the President for several years to address the rising cost of energy. Sadly, the issue of domestic energy supply has been avoided by majority Republicans and Democrats alike. Likewise, the President can demonstrate the commitment of his administration on domestic energy supply by immediately lifting the Presidential moratorium on offshore drilling in the OCS. Without decisive and pro-active leadership from both sides, domestic energy supply will simply continue to be a political football," said Timmons.
"The energy crisis is seeping into every part of our daily lives in America," Timmons continued. "Seniors and those on fixed incomes are struggling to pay their home heating and cooling bills; families are reprioritizing their budgets in order to pay for gas at the pump; and manufacturers are being forced to make difficult choices in order to keep their doors open.
"Lifting the Congressional and Presidential bans on offshore energy development is a commonsense remedy to the energy crisis that will help keep good jobs here at home and reduce America's dependence on foreign oil," he said.
"Tapping our own abundant resources in the United States is the only legitimate long term strategy to dealing with the crisis. The OCS contains more than 420 trillion cubic feet of natural gas - enough to heat approximately 100 million American homes for 60 years. The OCS also contains approximately 86 billion barrels of oil, enough to displace a significant percentage of U.S. imports and improve the U.S. balance of trade," Timmons concluded.
In addition to the issues outlined by the President today, the NAM has also advocated for the following actions to increase domestic energy supply:
o Expand nuclear power generation; o Streamline the siting and permitting of new and expanded domestic refineries; o Strengthen and renew the expired R&D Tax Credit to expedite domestic development of advanced energy and fuel technologies.
The National Association of Manufacturers is the nation's largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 11 additional offices across the country. Visit the NAM's award-winning web site at www.nam.org for more information about manufacturing and the economy.
Company Information: Name: National Association Of Manufacturers (NAM) Address: 1331 Pennsylvania Ave. N.W. City: Washington State: DC ZIP: 20004 Country: USA Phone: 202-637-3000 FAX: 202-637-3182 http://www.nam.org
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