The American Iron and Steel Institute (AISI) issued a statement Wednesday praising the US House of Representatives' progress toward an energy bill to expand domestic oil and gas production.
The House floated an energy plan this week that would allow four states, Georgia, North and South Carolina, and Virginia, the option of natural gas exploration 50 and 100 miles off the coast. The bill will also provide funding for conservation and renewable energy and repeal some tax cuts for the oil industry.
AISI President and CEO Thomas Gibson stated in a news release, "America's steel industry encourages the leadership of the entire Congress to pass meaningful legislation that will give all consumers access to affordable, abundant and reliable energy. We applaud the emerging bi-partisan, bi-cameral consensus that increasing domestic energy supply is a key element of any energy package. To maintain a globally competitive manufacturing sector, the ban on offshore exploration must be lifted so that energy-consumers have ready access to offshore natural resources."
In addition to the removal of the ban on four states, AISI is also urging Congress remove the moratorium to grant this right to all states.
"As an energy-intensive manufacturing sector, America's steel industry cannot support a mandatory renewable electricity standard," Gibson continued. "While renewable energy is an integral part of our energy supply, a federal standard for electricity producers is inappropriate because of regional differences in resources. Further, mandates of this nature will raise the cost of power for all consumers and may disadvantage industrial users."
The House will vote on the energy package this week. A similar energy bill is being pushed in the Senate. The Senate bill, in addition to the drilling lift on four states, also expands drilling in the Gulf of Mexico.