Goodlatte Reintroduces Legislation To Open Virginia for Oil Production

Representatives Bob Goodlatte reintroduced the “Virginia Access to Energy Act” this week. The legislation allows for the exploration of natural gas and crude oil in Virginia’s waters of the Outer Continental Shelf (OCS) and requires the Department of Interior, at the request of Virginia’s governor, to proceed with the Virginia lease sale no later than one year after passage of this legislation.

For many years the state has seriously considered the potential positive impact that OCS development off Virginia’s coast would have on the Commonwealth and in general there has been wide support for environmentally responsible energy production from the Governor, the General Assembly as well as local governments.

“Every day, folks across Virginia and the nation are confronted with the rising cost of energy, from the cost at the pump to soaring electric bills,” said Congressman Goodlatte.  “I believe that Virginia should have every tool available to access its energy supplies.  The ‘Virginia Access to Energy Act’ will create a path for Virginia to become ‘the Energy Capital of the East Coast.’”

It has been estimated by the U.S. Department of Interior’s Minerals Management Service that Virginia’s OCS has 130 million barrels of recoverable oil and 1.14 trillion cubic feet of recoverable natural gas. If tapped supporters believe this would translate into a significant boost to the economy of the Commonwealth.  Some analysts have shown estimates that indicate development of Virginia’s OCS could create over 2,500 full-time equivalent positions on an annual basis, induce capital investment of $7.8 billion, yield nearly $645 million in direct and indirect payroll, and result in over $270 million in state and local taxes.

“There is a clear link between our willingness to tap American energy resources with job creation and national security,” said Congressman Scott Rigell, a lead cosponsor of the Virginia Access to Energy Act.  “It is essential that we move forward with a comprehensive strategy that provides energy independence and I commend Congressman Goodlatte for introducing this legislation.”

The “Virginia Access to Energy Act” authorizes that all revenue generated from extraction of these resources may be shared evenly with the state and federal government, with the federal share going to reduce to the national debt.  The Commonwealth’s share will be used to fund various state projects at the discretion of the state government.

Representatives Rob Wittman (VA-1), Scott Rigell (VA-2), Randy Forbes (VA-4), Robert Hurt (VA-5), Morgan Griffith (VA-9), and Frank Wolf (VA-10) joined Rep. Goodlatte as original cosponsors of the legislation, which has been referred to the House Committee on Natural Resources for further consideration.

Goodlatte continued, “Virginians understand that a major component in lessening energy costs is to produce more energy.  In addition to helping us become energy independent, this legislation will help create thousands of jobs for Virginians and infuse the Commonwealth with new capital growth.”

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