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Governor Issues Statement on American Energy Development

March 22, 2011, Juneau, Alaska - Governor Sean Parnell today issued the following statement on the importance of American energy development, in response to comments President Obama made while traveling in Brazil:

"The federal government should be focusing on increasing responsible energy development in America, not in Brazil. When President Obama said the U.S. stands ready to be 'one of Brazil's best customers' when its new oil resources are developed, he demonstrated a fundamental misunderstanding of the critical importance of American energy security and the availability of existing domestic resources, including in Alaska."

While visiting South America, the President also said, of Brazil, "At a time when we've been reminded how easily instability in other parts of the world can affect the price of oil, the United States could not be happier with the potential for a new, stable source of energy."

"Our country has existing energy resources that stand ready to be produced," said Governor Parnell. "There is no more stable market in the world than here in America. Ramping up American energy development will create hundreds of thousands of American jobs, reduce our dependence on foreign oil, provide domestic economic development and improve our economic and national security."

According to the U.S. Geological Survey, the Arctic is estimated to hold about 40 billion barrels of oil and 236 trillion cubic feet of natural gas. Producers who need access to these resources are instead dealing with a de facto moratorium, permitting delays and burdensome regulation.

"I hope that President Obama will reexamine his 'no new wells' policy and unlock the economic potential of resource development in America, with Alaska leading the way," said Governor Parnell.

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