Shane Thielges | Shale Plays Media
An article by House Energy and Commerce Committee Chairman Fred Upton, R-Mi., on CNBC today says it’s high time Americans started seeing lower gas prices from the shale boom. Upton says the boom has paid off in decreased imports and prices that have remained relatively steady amid violence in Eastern Europe and the Middle East. He also says, however, that the Obama administration’s reluctance to allow drilling on federal lands is hobbling growth enough to affect Americans:
If Washington allowed more drilling on federal lands, we could gain additional protection from the price volatility caused by outside events and unforeseen global flare ups — and we might even find enough oil to cause a noticeable drop at the pump. In addition to keeping energy prices affordable, new domestic oil production could create over 500,000 additional energy industry jobs.
Upton also lauds US natural gas production, saying we have enough to make exporting a top priority, and calls for expanded energy transport infrastructure.
Read the Congressman’s full statement here: Unleashing the benefits of American energy