Manufacturers Concerned About Moratorium on Offshore Exploration and Development

Washington, DC, 05/28/10 -  The National Association of Manufacturers (NAM) President and CEO John Engler today issued the following statement regarding President Obama’s announcement to stop new deepwater oil drilling permits, cancel existing leases for expansion in the Outer Continental Shelf (OCS) and suspend current exploration:     
   
“Manufacturers believe it is critically important to understand the causes of the Gulf of Mexico accident.  However, it is a mistake to put a moratorium on exploration and development of our nation’s oil and natural gas resources.  We believe the Administration’s decision to cancel existing leases will set our country back in achieving economic security and energy independence.   

The expansion and development of the OCS is vital to affordable, reliable energy and the long-term health of our economy and prosperity of American workers.

Manufacturers will continue to work with the Administration and Congress to lift the moratorium and expedite delivery of these valuable resources to American consumers.”