U.S. Senate Committee Holds Hearing on Benefits of Domestic Energy Production

Before Congress broke for the August recess, U.S. Senate Energy and Natural Resources Committee Chair Mary Landrieu (D-LA) convened a hearing on “Leveraging America’s Natural Resources as a Revenue Generator and Job Creator.”

Among other things, Sen. Landrieu called for expanding energy revenue-sharing to all coastal states with offshore production, lifting the $500 million cap on revenue-sharing for Gulf Coast states, and accelerating the date for full implementation of revenue-sharing under the Gulf of Mexico Energy Security Act.

Ranking Member Sen. Lisa Murkowski (R-AK) talked about the need for increased resource access.  Noting that fossil fuel production on federal and Indian lands has fallen 21% over the last 10 years, Sen. Murkowski said that “[e]very American has heard of the Gulf of Mexico and many have now heard of the Bakken and Eagle Ford.  I live and breathe for the day when every American will have heard of the Chukchi, the Beaufort, Cook Inlet, and other resource rich areas in Alaska.”

Witnesses included Office of Natural Resource Revenue Director Gregory Gould, Lafourche Parish President/National Association of Counties representative Charlotte Randolph, and Quest Offshore Resources Consulting Manager Sean Shafer.