Washington, D.C. – Senate Energy & Natural Resources Chairman Pete V. Domenici today issued the following statement at the full committee hearing on S. 2253, a bill requiring the Secretary of the Interior to offer certain areas of the 181 Area of the Gulf of Mexico for oil and gas leasing:

Chairman Domenici’s statement:

“In today’s global economy our failure to act is setting us up to get left behind.  So, what will history say about us when we are presented with all this testimony from our business leaders, from the Chairman of our nation’s central bank, and  from our residential consumers?  What will they say if we are too timid to act?  What does it say about us when we let the misplaced fear of others, against all evidence to the contrary, get in the way of reasonable proposals that will bring much needed energy to the American people?  What will we tell the folks in our home states who bear the burden of these costs in their winter bills?  What will we say when they ask what we did to remedy this glaring problem?

“I will try my best with this 181 bill.  I, along with Senators Bingaman, Talent and Dorgan have offered a bipartisan plan to add an additional supply of natural gas to help alleviate the cost to consumers.  We are told that this is the single most important thing that this Congress can do this year to bring a substantial supply of natural gas to the market.  We are told that this should impact the price of the commodity in the market in the near term.  While it is likely that production can be brought on within two years from the date of a lease sale, it is also likely that action on this bill will send a positive signal to the markets.  The message will be that we are serious about taking action to increase the domestic supply of natural gas and to reduce the cost of energy.”

Witness testimony, Domenici’s opening statement and a map of the Lease Sale 181 Area can be accessed from the committee website at www.energy.senate.gov .  

###