Issa Statement on Major Gulf Oil/Gas Discoveries Announced Today

June 8, 2011

(WASHINGTON)—House Oversight and Government Reform Committee Chairman Darrell Issa (R-Calif.) today released the following statement on news of a major oil/gas discovery in the offshore Gulf of Mexico. The Committee has held hearings in the last month regarding the 2010 spill response effects on the Gulf economy, and on Obama Administration policies impacting domestic energy production.

Statement from Chairman Issa:

“Today’s announcement is good news—but it cuts both ways. It shows the job creation and energy independence potential for U.S. production, but it is little solace for energy consumers, industry workers and dependent firms who have paid the price for the Obama Administration’s moratorium and subsequent permitorium slowing Gulf of Mexico production for more than a year.

“Let’s remember that this successful project was approved and moving into location at the time the moratorium was put into place, and sat idle from 2010 through March 2011. Lost time is lost opportunity and the economic price has been paid by workers in the Gulf region and consumers at the gas pump.”

A link to the recent hearings and related reports is here and here.

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