AGL Resources Commends Mineral Mining Services’ 5-year Drilling Plan; Encourages Congress to Approve
AGL Resources commends the announcement of the U.S. Department of Interior Mineral Mining Services’ 5-year drilling plan, which includes a small section off the coast of Virginia, and encourages Congress to approve the plan which allows states more control over offshore resources and provides for revenue sharing.
“Access to domestic supplies of natural gas must be part of any successful long-term, national energy policy, and will help stabilize supply and moderate prices for our customers,” said John Somerhalder, AGL Resources’ chief executive officer.
Nations around the world have successfully and safely drilled in offshore locations for more than 35 years. Currently, new drilling technologies provide enhanced environmental protection as they allow each drilling rig to access larger areas.
East Coast natural gas prices are the highest in the United States and among the highest in the world, creating an economic disadvantage in the global marketplace.
The Virginia Secretary of Commerce and Trade concluded that natural gas can be safely produced at least 50 miles offshore with additional protection for the Eastern Shore, and the General Assembly has passed legislation asking Congress to lift the ban twice.
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