On the recordJune 22, 2011
I want to, first of all, say that this bill will not create jobs. This bill is not meant to create jobs. If the drilling is to create jobs, those jobs would be created regardless of whether this bill passes or not. This bill's supporters also claim that it will lower gasoline prices, that it will reduce the budget deficit, and that it will cut unemployment. Well, they might as well have said that it would cure the common cold as well. This bill is a solution in search of a problem. This bill was written by Shell, for Shell, to address its frustrations with the permitting process in Alaska, a frustration that it was responsible for, Shell, itself. Ironically, the EPA has said on many occasions that it is working overtime to finalize Shell's permits by the end of this summer. This bill won't get a drop of oil to American markets for American consumers one millisecond faster. {time} 1540 Shell told the Energy and Commerce Committee they won't be able to produce oil from its Arctic operations for at least 10 years, at least another decade. Even if this bill increased the rate of offshore production, new drilling is unlikely to affect world oil prices. The CHAIR. The time of the gentleman has expired.
