Are You Fed UpWhen You Fill Up?

What We Pay For In A Gallon Of Regular Gasoline

Source: U.S. Energy Information Administration

U.S. Energy Resources By Region(estimated)

Source: The State of American Energy 2011, American Petroleum Institute

NATIONAL PETROLEUM RESERVE IN ALASKA AND ADJACENT STATE WATERS

896 million barrels of undiscovered oil

53 trillion cubic feet of natural gas

PACIFIC COAST

10.5 billion barrels of

oilATLANTIC COASTLINE3.8 billion barrels of

oil37 trillion cubic feet

of natural gas

EASTERN GULF OF MEXICO

3.8 billion barrels of oil21.5 trillion cubic feet of natural gas

What Are House Republicans Doing?Common Sense Solutions

◆ Stop government policies that are driving up gas prices

◆ Expand American energy production to help lower costs and create more jobs

◆ Promote an “all of the above” strategy to increase all forms of American energy

House Republicans: Fighting for New American Energy Production

◆ House Republicans have a record of fighting high gas prices with an “all of the above” energy policy

◆ The American Energy Act (H.R. 6566), introduced in 2008 when gas spiked to $3.90/gallon, would have:

◆ Increased the production of American-made energy

◆ Promoted new, clean and reliable sources of energy

◆ Cut red tape and increased the supply of American-made fuel and energy

◆ Encouraged greater energy efficiency by offering conservation tax incentives

But then-Speaker Pelosi and Congressional Democrats refused to allow a vote on the bill.

House Republicans Are Taking Action

◆Three key bills:

H.R. 1229, ending the Administration’s de facto drilling moratorium in the Gulf of Mexico PASSED

H.R. 1230, requiring the Administration to move forward in conducting offshore lease sales in the Gulf of Mexico and Virginia PASSED

H.R. 1231, lifting the President’s ban on new offshore drilling PASSED

House Republicans Are Taking Action

◆These bills will help create American jobs

ESTIMATED IMPACT OF HOUSE REPUBLICANS’

ENERGY LEGISLATION

250,000

jobs createdin the short term1,200,00

0

jobs created in the long term

Source: The Economic Cost of a Moratorium on Offshore Oil and Gas Exploration to the Gulf Region,

Dr. Joseph R. Mason, Louisiana State University.

◆These bills will:

◆ Create jobs

◆ Reduce energy prices

◆ Help grow our economy

◆ Reduce our dependency on foreign sources of energymore jobs

lower energy prices

House Republicans Are Taking Action

Additional Slides

Source: CRS Report, U.S. Fossil Fuel Resources: Terminology, Reporting and Summary, pg.18

World Oil, Natural Gas and Coal Recoverable Resources

Source: CRS Report, U.S. Fossil Fuel Resources: Terminology, Reporting and Summary, pg.10

America’s True Oil Resources

Source: CRS Report, U.S. Fossil Fuel Resources: Terminology, Reporting and Summary, pg.9

American Oil Resources in Unexplored Areas

(Billion Barrels)

Source: CRS Report, U.S. Fossil Fuel Resources: Terminology, Reporting and

Summary, pg.10

America’s True Natural Gas Resources

Source: CRS Report, U.S. Fossil Fuel Resources: Terminology, Reporting and

Summary, pg.9

American Natural Gas Resources in Unexplored Areas

(Trillion Cubic Feet)

Source: CRS Report, U.S. Fossil Fuel Resources: Terminology, Reporting and

Summary, pg.17

World Coal Resources

Australia &New

Zealand

IndiaChina

Russia

United States

Summary of U.S. Energy Resources

Total U.S. Oil and Natural Gas162.9 billion barrels of oil1420.9 trillion cubic feet Outer Continental Shelf (Offshore)85.8 billion barrels of oil 419.8 trillion cubic feet of natural gas Onshore48.6 billion barrels of oil

756.31 trillion cubic feet of natural gas 

Coal488 billion short tons, of which 261 billion short tons is recoverable through mining

Oil ShaleMore than 1.5 trillion barrels of oil Shale Gas616 trillion cubic feet Methane Hydrates320,000 trillion cubic feet of gas