Mr. President--I wish to speak about legislation I am introducing today aimed at streamlining a cumbersome development process for offshore oil and gas development adjacent to Alaska. About a month ago, President Obama proposed essentially that when he called for increased domestic oil and gas development and cutting foreign oil imports by a third by 2025. The President even said his administration is ``looking at potential new development in Alaska, both onshore and offshore.'' We Alaskans were glad to hear the President use the ``A'' word-- Alaska. As America's energy storehouse for better than a quarter century, we are anxious to continue supplying our nation a stable source of energy just as we have been doing since oil starting flowing through the trans-Alaska pipeline in 1977. Simply put, Alaska has enormous untapped oil and gas reserves--an estimated 40 to 60 billion barrels of oil on State and Federal lands and waters. That is approaching a decade's worth of U.S. consumption. We also hold the Nation's largest conventional natural gas reserves-- more than 100 trillion cubic feet of this clean-burning fuel. As is always the case, it is the details that matter. While we welcome the President's interest in increased energy development in our state, his administration--and those which preceded him--have enacted roadblocks to this laudable goal.…
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