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Sen. Giessel Advocates for HR 3407 – Open ANWR, Share OCS Revenue

For Immediate Release: Monday, February 06, 2012

Sen. Giessel Advocates for Passage of HR 3407 –

Congressional Act Would Open 3% of ANWR,

Extend OCS Revenue-Sharing to Alaska

(Juneau) – Sen. Cathy Giessel, R-Anchorage, has advocated in support of HR 3407 in written testimony to Congress. The bill by Washington Rep. Doc Hastings would open a total of 400,000 acres, or three percent of the land base within the Arctic National Wildlife Refuge to exploration and development. Known as the American Energy and Infrastructure Jobs Act, HR 3407 would also enact a revenue-sharing provision to give 37.5 percent of revenue generated in Federal off-shore leases to the affected coastal states.

“I was pleased to support HR 3407, which, if passed and signed into law by the president, will finally start the process of putting the vast resources of the Arctic to work for America,” Giessel said.

In her letter to Rep. Hastings, Giessel wrote:

“We know that significant hydrocarbon resources exist in the 1002 Area of ANWR. Credible estimates identify more than 16 billion barrels of oil and 18 trillion cubic feet of natural gas lie within the 1002 area of ANWR.

“The 1002 area is about the size of the state of South Carolina. The specific footprint designated for development is about 3 square miles. Advances in technology will make it possible to access significant resources from this small area.

“Given that the US imports about 49 percent of the oil (2010) it consumes, I believe it is vital that the opportunity for oil and gas development on the Alaska coastal plain be seized.”

Giessel said it is estimated HR 3407 would create 1.2 million jobs, many of them in the energy sector, providing American energy for American consumers. She said the revenue-sharing provisions will make sure Alaska and other coastal states with federal OCS potential will be treated equally with Gulf of Mexico states, which already share in federal revenue generated offshore. The measure has been placed on the calendar of business for the House of Representatives; however, a specific date is yet to be determined.

Contact: House of Representatives, Natural Resources Committee, Doc Hastings, Chair: Spencer Pederson, Crystal Feldman, or Jill Strait: 202-226-9019.

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To read Sen. Giessel’s letter, please go here:  Ltr to Hastings HR 3470 ANWR


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