Today, the House Natural Resources Subcommittee on Energy and Mineral Resources held an oversight hearing on the U.S. - Mexico Transboundary Hydrocarbon Agreement to examine steps needed for its implementation and a legislative hearing on H.R. 1613, the “Outer Continental Shelf Transboundary Hydrocarbon Agreements Authorization Act.” This important legislation implements the U.S. – Mexico Transboundary Hydrocarbon Reservoirs Agreement by lifting the current moratorium on drilling in the Western Gap area of the Gulf of Mexico. It also provides the certainty needed to develop energy along the entirety of the U.S./Mexico maritime border in the Gulf of Mexico - allowing for expanded energy development in the Gulf of Mexico to create jobs, lower energy prices, and make America more energy secure.

“This Agreement, if implemented correctly, is a rare opportunity to expand US energy production, create new American jobs, and grow our economy by opening new areas to oil and natural resources development,” said Subcommittee Chairman Doug Lamborn (CO-05). “It is important that we get it right so that we may, along with our ally Mexico, set an example on how together we may foster the shared goal of developing our nation’s outer continental shelf for economic prosperity and energy security.”

At the hearing, officials from the Obama Administration and energy experts highlighted the importance of approving this Agreement:

“The Agreement provides a much needed mechanism to facilitate the responsible and efficient exploration and development of hydrocarbon resources along the U.S. Mexico maritime boundary and provides new opportunities for U.S. companies. We look forward to working with the subcommittee to enact legislation implementing this important agreement with our Mexican partners in Gulf of Mexico energy development.” - The Honorable Tommy Beaudreau, Acting Assistant Secretary for Land and Minerals Management

“We welcome H.R. 1613, The Outer Continental Shelf Transboundary Hydrocarbon Agreements Authorization Act that was introduced late last week. It is a promising step forward to implement the U.S. – Mexico Transboundary Agreement. We are encouraged by the accelerating pace of interest and movement on implementing this agreement. It is one that provides a much needed mechanism to facilitate the responsible and efficient exploration and development of hydrocarbon resources along the U.S.–Mexico maritime boundary.” - Ambassador Carlos Pascual, Special Envoy and Coordinator for International Energy Affairs

“The Transboundary Hydrocarbon Agreement with Mexico is important as it could help create additional resource opportunities for US oil and natural gas companies in the Gulf of Mexico and in turn create more jobs and enhance our energy security. Implementing legislation authorizing this important agreement should be approved as quickly as possible, and H.R. 1613 takes that pivotal step.” - Mr. Erik Milito, Group Director, Upstream & Industry Operations, American Petroleum Institute

“North America is an energy rich continent. Our energy issues are not issues of a lack of supply, but a lack of access to energy resources. The Transboundary Hydrocarbon Agreement is one way the federal government should be moving forward to grant access to taxpayer-owned energy resources. The agreement is a good agreement and should expeditiously move forward.” - Mr. Daniel R. Simmons, Director of Regulatory and State Affairs, Institute for Energy Research

“Developing hydrocarbon resources in the Gulf of Mexico along the internationalboundary with Mexico, including along the boundary within the ‘Western Gap’ area on the extended continental shelf, is in the national interest of the United States. The United States should take every action necessary — including the implementation of the Transboundary Agreement — to develop its hydrocarbon resources located on its Extended Continental Shelf in the Gulf of Mexico.” - Mr. Steven Groves, Bernard and Barbara Lomas Senior Research Fellow, Margaret Thatcher Center for Freedom, The Heritage Foundation

###

Printable PDF of this document