FreedomWorks Applauds New Energy Development in the Chukchi Sea

As auctions begin on oil and natural gas reserves in the Chukchi Sea, America should reaffirm its commitment to keeping energy affordable and accessible to all. With gas prices reaching skyward and economic instabilities making headlines, increasing U.S. energy production capacity is a vital step toward keeping the country competitive and productive.

Right now, the U.S. is the world’s 2nd largest natural gas producer and 3rd largest oil producer. But demand is on the rise. Even now, the U.S. is unable to meet current demand for natural gas.

That’s why developing reserves like the one that went up for lease today is so important. Indeed, the Chukchi Sea holds an enormous amount of untapped energy. Estimates put the Sea’s recoverable reserves at 15 billion barrels of oil and 77 trillion cubic feet of natural gas. As domestic oil production declines, the oil and gas found here will provide the U.S. a substantial new source of secure domestic energy.

Opposition to energy exploration is unfounded and economically short-sighted. The U.S. should stand firm against fringe special interests and commit to pursuing growth-oriented, forward-looking energy policies that serve consumers first.

FreedomWorks President Matt Kibbe comments, “When it comes to energy, the Left’s message is simple: They want America to pay more and have less. But Americans know better than that, and should support energy policies that make energy more available and more affordable– not the other way around.”