US fertilizer group supports offshore drilling

06 April 2010 21:11  [Source: ICIS news]

HOUSTON (ICIS news)--Drilling for natural gas offshore of US coasts is a step in the right direction, industry group The Fertilizer Institute (TFI) said on Tuesday.

The Interior Department’s Five Year Plan on offshore oil-and-gas drilling does not go as far as the action taken by Congress in 2008, which lifted the moratorium on offshore exploration, TFI said. “But it is an encouraging step toward expanding domestic energy supplies and reducing a reliance on foreign sources of oil and gas.”

President Barack Obama used an executive order last week to open previously restricted offshore areas to drilling and exploration for energy sources.

Natural gas is the primary feedstock for the production of ammonia and other nitrogen fertilizers.

TFI said it supports policies that encourage the development of domestic supplies of natural gas, but worries that future policies, particularly in regards to climate change, could overwhelm any new supplies of natural gas.

To discuss issues facing the chemical industry go to ICIS connect

By: Frank Zaworski
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly