By Brandon Moseley
Alabama Political Reporter
Senator Jeff Sessions (R) from Alabama said that the Barack H. Obama administration “would rather tax Americans and domestic producers to pay for more Solyndras and other uneconomical energy schemes than utilize our natural resources to enrich the country and grow the private sector.”
In a press release Sen. Sessions said, “We are sitting on a huge treasure of untapped reserves. Most of this is located on federal lands that are managed at the president’s discretion. We could potentially yield as much as three to four times more recoverable oil than any other country on Earth just from our shale reserves alone. The president could begin lowering prices now—and keep them low in the future—by firmly announcing to the world that he will end the moratorium on new leases and dramatically expedite domestic permitting at once.”
Sen. Sessions continued, “Such bold action would also begin to end the massive transfer of domestic wealth overseas, reduce our trade imbalance, and create millions of long-term good-paying private sector jobs that—unlike government stimulus—help our treasury instead of raiding it. This is more than just about what kind of energy we should use; it’s about whether we allow struggling Americans to reap the economic benefits locked away in a vast wealth of natural resources.”
“But the Obama Administration has made clear that they would rather tax Americans and domestic producers to pay for more Solyndras and other uneconomical energy schemes than utilize our natural resources to enrich the country and grow the private sector. It’s social engineering, and people in Alabama and across the country are paying the price,” said Sen. Sessions
Sen Sessions referred constituents to the EIA (Energy Information Administration) report which said:
“As shown in EIA’s International Energy Outlook 2011, the global supply of crude oil, other liquid hydrocarbons, and biofuels is expected to be adequate to meet the world’s demand for liquid fuels for at least the next 25 years. There is, of course, substantial uncertainty about the levels of future oil supply and demand, and EIA reflects some of this uncertainty by developing low and high oil price cases, in addition to a reference case. The oil resources currently remaining in the Earth’s crust, in combination with expected volumes of other liquid fuels, are estimated to be sufficient to meet total demand for liquid fuels in all three price cases of the IEO2011.”
Senator Sessions finished, “The president repeated today the false claim that the United States has “only 2 percent of the world’s oil reserves.” He bases this statement on U.S. “proved reserves,” but his own U.S. Energy Information Administration has stated that proved reserves is “not an appropriate measure for judging total resource availability in the long-term.” (see EIA website). In reality, America potentially has more recoverable oil and natural gas than almost any country in the world. Proved reserves excludes shale, yet the U.S. has 4 times the recoverable oil in oil shale as Saudi Arabia’s proved reserves.”
To read the full press release:
To read more about the EIA
