Washington, DC —
Senator John Thune (R-SD) has signed on as an original cosponsor of the Marine Oil and Gas Environmental and Competitiveness Energy Security Act, legislation to give the United States a competitive edge over nations like China and Cuba who intend to drill soon in waters just off the coast of Florida. The legislation will be introduced today by Senator Larry Craig (R-ID).
Cubapetroleo, the state oil company of Cuba, recently signed an oil production sharing agreement with the China Petroleum and Chemical Corporation and purchased three deep-water drilling rigs from them for use in the exclusive economic zone of Cuba, which extends to within 52 miles off the coast of the Florida Keys. U.S. industries are currently hamstrung by U.S. law and not able to compete with countries like China, France and Spain in our own Western Hemisphere. The Marine Oil and Gas Environmental and Competitiveness Energy Security Act would amend U.S. law to allow American industries to explore and extract resources in our region before foreign countries lock-up these critical resources.
"Democrats for too long have stood in the way of domestic oil and gas exploration. The negative results of this obstruction are today being felt by every American consumer paying $3 and more for a gallon of gasoline. And now, because of decades of Democrat obstruction, countries like Cuba and China are set to seize on the rich resources that lie off our shores," Thune said. "I will not stand for the American consumer losing out to Communist Oil. The time to act to reduce our dependence on foreign oil and take advantage of energy sources at our fingertips is now."
Cubapetroleo, the state oil company of Cuba, recently signed an oil production sharing agreement with the China Petroleum and Chemical Corporation and purchased three deep-water drilling rigs from them for use in the exclusive economic zone of Cuba, which extends to within 52 miles off the coast of the Florida Keys. U.S. industries are currently hamstrung by U.S. law and not able to compete with countries like China, France and Spain in our own Western Hemisphere. The Marine Oil and Gas Environmental and Competitiveness Energy Security Act would amend U.S. law to allow American industries to explore and extract resources in our region before foreign countries lock-up these critical resources.
"Democrats for too long have stood in the way of domestic oil and gas exploration. The negative results of this obstruction are today being felt by every American consumer paying $3 and more for a gallon of gasoline. And now, because of decades of Democrat obstruction, countries like Cuba and China are set to seize on the rich resources that lie off our shores," Thune said. "I will not stand for the American consumer losing out to Communist Oil. The time to act to reduce our dependence on foreign oil and take advantage of energy sources at our fingertips is now."