Oil News: OCS Plan Has Three Groups Fighting To Keep Alaska

With the upcoming Presidential elections, many companies in the oil and gas industry are fighting to keep the Obama administration’s plan in operation. Three national groups representing the energy manufacturers and associated businesses have written a letter to President Barack Obama asking oil and gas lease sales in the Beaufort and Chukchi Seas, the Central and Western Gulf of Mexico and parts of the Eastern Gulf, to still be part of the 2017-22 U.S. Outer Continental Shelf (OCS) management plan.

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Image Source: inddist.com

The letter was spearheaded by the Consumer Energy Alliance with the support of the National Association of Manufacturers and the U.S. Chamber of Commerce. One hundred and seven signatories were included in the plea, stating conclusively that there are some people concerned about the stability of the industry. The signatories represent a wide range of businesses including transportation and construction. The need for such a letter was urgent, they say, as the decision on the five-year plan is expected around November after the new U.S. president is sworn in.

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Image Source: oilandgasbusinessschool.com

As of now, domestic offshore oil and gas development is augmented with international imports. This is understandable given the current consumption rates. However, there is a push to solidify local efforts. National oil and gas investors and companies would then be able to support a sustainable energy capital. This move is viewed as highly optimistic; many government officials are saying that complete independence is not feasible. Yet they also recognize the need for further improvement and are said to be carefully looking into the letter submitted to the OCS.

JBH Consulting Group helps investors manage their oil and gas assets. Part of its mission is to improve national growth by creating more domestic oil wells. To learn more, visit this website.

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