FOR IMMEDIATE RELEASE
Thursday, November 3, 2005

Isakson Praises Senate’s Decision to Open ANWR to Oil, Gas Development
ANWR Critical to National Security, Economic Well Being

WASHINGTON – U.S. Senator Johnny Isakson (R-Ga.) today praised the Senate’s rejection of an amendment that would have prevented oil and gas development in a portion of the Arctic National Wildlife Refuge (ANWR).

“With skyrocketing gas prices and the damage to our refineries from Hurricanes Katrina and Rita, the exploration of ANWR is critical to America’s national security and economic well being ,”Isakson said.

ANWR potentially contains up to 10.4 billion barrels of crude oil and will eventually be capable of producing 1 million barrels of oil per day. Currently, production of 1 million barrels a day remains offline in the Gulf of Mexico due to damages from the hurricanes.

Opening a portion of ANWR will also create between 700,000 and 1 million American jobs. It would raise an estimated $2.4 billion in leasing fees for the federal government, and development in ANWR and related activities is estimated to add $350 billion to the U.S. economy in direct spending.

“We must seek to end our reliance on foreign energy sources by responsibly exploring potential energy sources here at home,” Isakson said. “ANWR holds the most potential for domestic oil and gas production. ”

The Fiscal Year 2006 Budget Resolution, which passed in March, included provisions for exploring the Coastal Plain of Alaska’s ANWR. This amendment today was part of the Deficit Reduction Act, which will result in savings of $39.1 billion over five years and $109 billion over 10 years to reduce the federal deficit.

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