Bill introduced to approve transboundary hydrocarbon agreement with Mexico

Source:U.S. Natural Resources Committee

Congressman Jeff Duncan (SC-03), House Natural Resources Committee Chairman Doc Hastings (WA-04), and House Foreign Affairs Subcommittee on Western Hemisphere Chairman Matt Salmon (AZ-05) today introduced H.R. 1613, the Outer Continental Shelf Transboundary Hydrocarbon Agreements Authorization Act.  The bill would approve and implement the terms of the U.S.-Mexico Transboundary Hydrocarbon Reservoirs Agreement to govern the development of shared oil and natural gas resources between the United States and Mexico maritime border in the Gulf of Mexico

This bill would amend the Outer Continental Shelf Lands Act, and provide the legal certainty needed for greater energy exploration and development for resources that extend across our maritime border with Mexico.  The Agreement was signed in 2012 by then-Secretary of State Hillary Clinton and Mexican Foreign Minister Castellano at the G-20 summit in Los Cabos.  It lifts the current moratorium on drilling along a section of the boundary, and provides a framework for the safe management of transboundary hydrocarbons along the whole maritime border.

“This bill is another step towards embracing an all-of-the-above approach to energy that safely develops our natural resources to help achieve North American energy independence. This bill will help lower energy costs while creating American jobs by safely opening up more areas in the Gulf of Mexico for exploration and production.  This is a common sense approach to work with our partners south of the border to make both countries more energy secure, while protecting our sovereignty.  We’re choosing to act instead of allowing the Administration to continue dragging its feet on energy development,” said Rep. Jeff Duncan.

“Congressional approval of this agreement will provide much-needed certainty to U.S. energy companies that are interested in leasing and developing these areas but up until now have been unable.  It will create new opportunities for expanded American energy production and enable job creation and economic growth,” said Natural Resources Committee Chairman Doc Hastings. 

“Approval and implementation of this agreement is unquestionably in the national interests of the U.S as a step towards energy security and job creation in the United States, as well as much needed energy reform in Mexico, and Western Hemisphere energy independence.  We can achieve energy independence and better energy cooperation with our neighbor and this is an important step in that direction,” said Foreign Affairs Subcommittee on Western Hemisphere Chairman Matt Salmon.

A legislative hearing on this bill will be held by the Natural Resources Subcommittee on Energy and Mineral Resources on Thursday, April 25th.

WHAT:

Energy and Mineral Resources Subcommittee oversight hearing on “U.S.-Mexico Transboundary Hydrocarbon Agreement and Steps Needed for Implementation” and legislative hearing on H.R. 1613, the Outer Continental Shelf Transboundary Hydrocarbon Agreements Authorization Act.

 

WHEN:

Thursday, April 25, 2013
10:00 A.M.

 

WHERE:

1324 Hearing Room in the Longworth House Office Building

 

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