I continue to reserve the balance of my time. Mr. LoBIONDO. Mr. Speaker, how much time remains? The SPEAKER pro tempore. The gentleman from New Jersey has 11 minutes remaining. Mr. LoBIONDO. Mr. Speaker, I now yield 3 minutes to the gentleman from Indiana (Mr. Bucshon). I thank him for his help on this issue.
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To make broad statements that projects are getting killed every day because of WOTUS does not actually line up with the facts.
There has never been a more important time for the United States to maintain and expand its leadership in the Arctic.
The region is rich in natural resources including 90 billion barrels of undiscovered oil, 30 percent of the world's undiscovered natural gas and $1 trillion in rare earth minerals.
However, this activity has been dominated by Russian-flagged vessels, and both Russia and China have jockeyed for control of the region.
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