Jim Sensenbrenner: “Mr. Speaker, methane hydrates which consist of a mixture of methane and water frozen into a solid crystalline state have…”

“Mr. Speaker, methane hydrates which consist of a mixture of methane and water frozen into a solid crystalline state have great energy potential and are found in many areas throughout the world. The U.S. Geological Survey's 1995 national assessment of United States oil and gas reserves estimated the value of U.S. in-place methane hydrate resources to be an astounding 320 quadrillion cubic feet of gas. By comparison, the United States annually consumes about 33 trillion cubic feet of methane as natural gas. The world's currently known gas reserves are about 5 quadrillion cubic feet. H.R. 1753 directs the Secretary of Energy in consultation with the Secretaries of Commerce, Defense and the Interior and the director of the National Science Foundation to commence a program of methane hydrate R&D. It authorizes the Secretary of Energy $5 million for fiscal year 2001, $7.5 million for fiscal year 2002, $11 million for fiscal year 2003, and $12 million for each of fiscal years 2004 and 2005 to carry out the programs. The bill also authorizes the Secretary of Energy to award grants or contracts to, or enter into cooperative agreements with, institutions of higher education and industrial enterprises to conduct methane hydrate R&D.”