U.S. HOUSE OF REPRESENTATIVES

Contact: Vaughn Jennings 202.225.2211

Washington, Feb 2, 2010 - Today, Congressman John Sullivan released the following statement on the energy portion of President Obama’s FY 2011 budget proposal, which would have a devastating impact on Oklahoma’s economy and cripple job growth by leaving American clean burning and overly abundant natural gas out of the energy mix.
 
“While The President’s budget proposal did address government investment in clean energy and touched on nuclear power, off-shore drilling and “clean coal” technology, it remains a mystery why he would stifle a growing domestic industry that has potential for massive job creation by hitting oil and gas producers with $36 billion in increased taxes and tax penalties over the next 10 years. 90% of our domestic oil and gas resources are developed by independent producers, and taxing them in the heart of an economic downturn with a 10% national unemployment rate will hurt domestic production and the job growth we so desperately need.”

“We have at least a 100 year supply of natural gas right here in America. The oil and gas industry is responsible for over 1.8 million jobs across the nation and is one of few industries that has produced double digit job growth over the last few years . There are over 10 million natural gas vehicles around the world yet we only utilize 150,000 here in America.  Growth in natural gas production, exploration and infrastructure development would serve as a major job creator. Yet in his budget proposal, the President suggests that we continue sending billions of dollars overseas for oil, while we have a cleaner, cheaper, more abundant energy source right here at home.”