Saturday, February 4, 2012

Rigell Proposes Comprehensive Energy Legislation

Rigell Introduces Comprehensive Energy Legislation to Create Thousands of Jobs for Virginians,
Help Achieve American Energy Independence

Part of Wind, Oil and Gas Leasing Royalties to go to Commonwealth for Environmental Clean Up
Washington – In an effort to address America’s unemployment and energy challenges, today Representative Scott Rigell (VA-2) introduced the Mid-Atlantic Energy and Jobs Act of 2012  (HR 3882) to open the Outer Continental Shelf (OCS) off the coast of Virginia for energy harvesting. The legislation would help move America away from its dangerous reliance on foreign oil and could produce as many as 18,000 local jobs. At the same time, the legislation would generate $1.4 billion in oil and gas royalty revenue for the Commonwealth of Virginia, a percentage of which would be required to go toward environmental cleanup in Virginia.

“Our nation’s unemployment rate is unacceptable. So too is our dependence on other nations for our oil and gas. We have so much opportunity to put folks to work with the resources that are right off our coast and in every corner of this country,” said Representative Scott Rigell (VA-02). “This legislation will unquestionably create jobs – thousands of them – good paying ones, too. And it will keep our capital circulating within our borders.

“At the same time, we have a moral obligation to leave our children and grandchildren with clean air, water and soil. This legislation will allow us to accomplish all of this.”

Rigell introduced the legislation to open the OCS after the Obama Administration essentially shut down any further exploration off Virginia’s coast last year, where 3.8 billion barrels of oil are known to exist. Expanding the domestic energy industry could help bring down the nation’s unemployment rate and keep significant amounts of money circulating within the U.S. Currently, the U.S. sends more than $500 billion each year to countries like Venezuela and Saudi Arabia, nations that do not share our values. Further, President Obama has said that moving America toward energy independence is a top national security priority.

Opening the energy sector has proven successful in regions across America, like North Dakota, where unemployment is at a nation-wide low of 3.5 percent and the local economy is thriving despite a sluggish national economy. This is especially important for the Hampton Roads region, where the economy stands to benefit from  diversifying industry and economic investment. If the legislation is enacted, the energy industry is expected to inject significant capital to the local economy, beyond the $1.4 billion in royalty and lease revenue.

In response to concerns about safety and the environment, Rigell’s legislation includes requirements that 25 percent of Virginia’s share of lease royalties go toward environmental clean up.

The legislation has the support of Rob Wittman (VA-1); Robert Hurt (VA-5); Robert Goodlatte (VA-6); and Morgan Griffith (VA-9). It now goes to the House Natural Resources Committee for consideration.

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