NAM supports commercial oil shale leasing on public lands.
Press Release Summary:
According to NAM President and CEO, John Engler, U.S. Department of Interior's proposal for commercial oil shale leasing on public lands in Western states is a necessary step forward to increase America's energy supply. Oil shale is found in rock formations below ground in Colorado, Wyoming, and Utah. Estimates of oil resources available in oil shale range from 1.2-1.8 trillion barrels, of which estimated 800 billion barrels is recoverable, according to Bureau of Land Management.
Original Press Release:
NAM Says Commercial Oil Shale Leasing On Public Lands Will Increase Domestic Energy Supply
Potential for Recovering 800 Billion Barrels of Oil Resources According to Dept. of Interior
WASHINGTON, D.C., July 22, 2008 - The National Association of Manufacturers (NAM) today welcomed the U.S. Department of Interior's proposal for commercial oil shale leasing on public lands in Western states as "a necessary step forward to increase America's energy supply," according to NAM President and CEO John Engler.
"We are encouraged by the Interior Department's proposal for commercial oil shale leasing on federal lands and the promise it holds for more affordable and secure domestic energy supplies," Engler said.
Oil shale is found in abundance in rock formations below ground in Colorado, Wyoming and Utah. Estimates of the oil resources available in oil shale range from 1.2 trillion to 1.8 trillion barrels, of which an estimated 800 billion barrels is recoverable, according to the Bureau of Land Management.
"This country is facing an energy crisis," Engler said. "We must take every opportunity to tap America's own abundant energy resources to lower prices and reduce our dependence on foreign oil. Allowing commercial oil shale leasing on public lands is essential to any long-term energy strategy. Let's allow our innovative manufacturing companies to demonstrate that America has the ingenuity to extract and develop oil shale resources in an environmentally-sound way.
"The Executive Branch has again demonstrated its commitment to increasing domestic energy supply with today's oil shale proposal, following last week's lifting of the Presidential moratorium on offshore drilling in the Outer Continental Shelf. Now it's Congress's turn to take action by repealing its ban and allowing final leasing rules to be issued, granting access to much needed domestic resources," Engler concluded.
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.
