U.S. Rep. Steve Stivers (R-OH) recently reintroduced the American-Made Energy and Infrastructure Jobs Act, which would create millions of jobs and generate revenue by expanding drilling operations in the Outer Continental Shelf (OCS).
“This legislation is a creative, simple solution to rising energy costs, high unemployment and our aging infrastructure,” Stivers said. “Not only will this legislation create jobs through harnessing American-made energy, but we will also lessen our dependence on foreign oil, which could lower gas prices.”
The bill would grant access to oil and natural gas resources in OCS regions, which have been previously untapped. The program would immediately generate revenue from leases for off-shore drilling, providing a new, dedicated source of funds for highway, transportation and water infrastructure projects.
It accomplishes these goals by requiring the Obama administration to submit a new lease plan in 2015 for developing the United States’ offshore energy resources; requiring that each five-year offshore leasing plan includes lease sales in the areas containing the greatest known oil and natural gas reserves; establishing revenue sharing of offshore revenues for coastal states; mandating lease sales previously delayed or canceled by the Obama administration be finalized; authorizing the secretary of the Treasury to issue non-government backed, 20-year interest bearing bonds to provide an up-front funding source for transportation projects; and creating new opportunities for future offshore energy production in new areas by including U.S. territories in the Department of the Interior’s resource assessment studies.