Mr. Chairman, I move to strike the last word. Mr. Chairman, I rise in opposition to this amendment. I have no doubt that the gentleman who has offered it is well intentioned, and he is clearly becoming a leader on moving our country to…
Mr. Chairman, I move to strike the last word.
Mr. Chairman, I rise in opposition to this amendment. I have no doubt that the gentleman who has offered it is well intentioned, and he is clearly becoming a leader on moving our country to greater energy independence. But we will not get there by lifting the moratorium on drilling off the Atlantic and Pacific coasts. We will, however, invite great harm to established fishing and tourism industries, as well as the environment.
Off the coast of Virginia, we will interfere with the U.S. Navy's Virginia Cape Operations area in a way that the Department of Defense has warned us in unequivocal terms would be totally unacceptable and utterly incompatible with the operations that they are currently conducting. They could not conduct very sensitive essential operations off the coast of Virginia that are ongoing if we were to pass this amendment.
While it's technically feasible to drill for natural gas, there are also some fundamental, legal and economic questions about whether any drilling offshore could be limited to just natural gas.
But I want to focus particularly on the fact that this amendment can't possibly solve our energy problem.
The natural gas and oil estimated to be recoverable from the outer continental shelf will not result in lower natural gas prices. It simply takes too long to develop a natural gas field to affect prices in the short term. We are talking 1 to 3 years at least to develop a field. Natural gas from areas currently off limits to drilling won't reduce prices in the long term either, since there is not enough gas there compared to either annual U.S. production or consumption.
A Department of Energy study compared the price of natural gas with the OCS moratorium areas that are kept out of production, versus the price of natural gas, if all of the moratorium areas were opened for drilling in the 2007-2012 5-year plan.
With all of its supply and demand information, the Department of Energy's model modeling system predicted that the price of natural gas would be $3.26 per thousand cubic feet in the year 2020, without the gas under moratoria, and $3.22 per thousand if we eliminate the moratorium. In other words, we could only save 4 cents if this amendment were implemented.
Moreover, the vast majority, over 80 percent of the Nation's undiscovered but technically recoverable Outer Continental Shelf gas is already located in areas that are open to drilling. And that's according to the Interior Department's 2006 report to Congress.
According to the same report, there is an estimated 86 trillion cubic feet of undiscovered, technically recoverable resources in all the Outer Continental Shelf areas that have been withdrawn from leasing, compared to 479 trillion cubic feet of reserve appreciation undiscovered technically recoverable resources within the total Outer Continental Shelf belonging the United States.
These are technical words and statistics. What it says is that, at best, you can open up 20 percent, and the fact is, it wouldn't make but a pittance of difference in the cost of natural gas. Eighty percent of the Nation's undiscovered natural gas is already open to drilling.
The other thing that we're very much concerned about is what the drilling operations do to our environment. They discharge hundreds of thousands of gallons of what's called ``produced water'' that contain a variety of toxic pollutants, including benzene, arsenic, lead, naphthalene, zinc and toluene, and can contain varying amounts of radioactive material. And tons of air pollutants are emitted. It will also trigger the uncontrolled release of methane hydrates, a greenhouse gas that's 20 times more potent than carbon dioxide.
And then if you look at what drilling has done to the Gulf Coast, you will recognize that it's destroyed hundreds of miles of wetlands and sensitive coastal habitats. When they bring the channel transporting the oil or gas into the shore, it brings the saltwater into the fresh water and destroys the plant life which reduces erosion. Thus we lose several football fields of shoreline every day along the Gulf Coast.
Mr. Chairman, there are a host of reasons this amendment is a bad amendment. It should be defeated. We should follow the lead of the chairman of the subcommittee.