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