Stivers Announces: “American-Made Energy and Infrastructure
WASHINGTON, D.C. – Today, Ohio Congressman Steve Stivers (R-Columbus) announced plans to introduce the American-Made Energy and Infrastructure Jobs Act – a bill to expand U.S. offshore energy production in order to create millions of American jobs and generate new revenue to help pay for initiatives to repair and improve infrastructure.
The measure will be part of the energy and infrastructure jobs bill announced by House Speaker John Boehner (R-OH) last week. The bill,
expected to move through the House in the coming weeks, will link expanded American energy production with initiatives to repair and improve infrastructure, permanently removing barriers to private-sector growth.
“Americans in Ohio and across the country are worried about rising energy costs, high unemployment and our aging infrastructure. This bill is an opportunity to directly address those concerns by linking expanded American energy production to important infrastructure repairs and improvements,” said Congressman Stivers. “The U.S. has vast energy resources that are not being developed due to federal government roadblocks. Removing these barriers and allowing expanded American energy production will create long-term job growth, reduce our dependence on foreign oil, and provide much-needed revenue to help pay for vital infrastructure improvements.”
The Stivers plan opens up untapped oil resources in the Outer Continental Shelf that will raise revenue from new offshore drilling leases and provide a new dedicated source of revenue to fund infrastructure projects. Specifically, the American-Made Energy and Infrastructure Jobs Act will:
· Require that each five-year offshore leasing plan include lease sales in the areas containing the greatest known oil and natural gas
Reserves. For the 2012-2017 plan being written by the Obama Administration, the areas with the greatest known reserves are specifically defined as those estimated to contain 2.5 billion barrels of oil or 7.5 trillion cubic feet of natural gas. At least 50 percent of those areas must be made available for leasing in the 2012-2017 plan.
· Require the following lease sales that were delayed or canceled by the Obama Administration to occur before June 1, 2012 or within one year after enactment of the bill: lease sale #220 off the Virginia Coast , and Gulf of Mexico lease sales #216 , #218 and #222.
· Open the Eastern Gulf of Mexico, which is currently under Congressional moratorium until 2022, to new energy production.
* Establish fair and equitable revenue sharing of offshore revenues for coastal states. Currently, states in the Gulf of Mexico receive 37.5 percent of revenue from new leases. This bill would extend that revenue sharing percentage to other coastal states with energy production off their shores.
AGDC, BP Alaska announce agreement on key terms of gas sales agreement
Governor commends the parties for a major step forward on Alaska LNG Project
May 7, 2018 JUNEAU – The Alaska Gasline Development Corporation (“AGDC”) and BP Alaska on Monday announced an agreement on key terms of a gas sales agreement, a major step forward for the Alaska LNG Project.
The deal establishes terms for price and volume, and the parties anticipate finalization of a long-term gas sales agreement in 2018 for AGDC to purchase BP Alaska’s share of 30 trillion cubic feet of gas from the Point Thomson and Prudhoe Bay units.
“During my call last week with BP’s chief executive officer, Bob Dudley, I thanked BP for its commitment to the Alaska LNG Project. I also commend Keith Meyer and his team at AGDC that worked to make this historic deal happen,” Governor Bill Walker said. “This agreement means Alaskans are one step closer to finally monetizing the vast reserves of natural gas on the North Slope. The end result will be thousands of jobs, a significant reduction in energy costs to power homes and businesses, and cleaner air. Having BP – one of our longtime participants in this project – commit its share for the gas on the sale underscores the progress we continue to make to build a stronger Alaska.
Today, the Alaska Delegation applauded the Alaska Gasline Development Corporation (AGDC) and BP Alaska on their announcement of the key terms of a Gas Sales Agreement.
“Today’s announcement is an important step in our efforts to commercialize Alaska’s vast natural gas resources,” said the delegation. “Over the years, trillions of cubic feet of natural gas have been left in place on the North Slope because we lack the infrastructure needed to transport it. The increased production of Alaska’s vast resources positions our state to be a leader in global energy security, while also boosting our state’s economy. While we recognize that negotiations are ongoing, we congratulate AGDC and BP for working together to move Alaska’s gas to market.”
BP Alaska and AGDC announced that key terms of a Gas Sales Agreement have been reached. This agreement establishes the price and volume of natural gas to be sold by BP to AGDC and transported locally and globally. This development comes six months after President Donald Trump and China’s President Xi Jinping witnessed the signing in Beijing of the five-party joint development agreement to monetize Alaska’s natural gas.