Murkowski calls for federal energy investment incentives

U.S. Sen. Lisa Murkowski (R-AK) spoke on Tuesday at a hearing on oil and natural gas development, encouraging the government to incentivize domestic energy production while gas prices are low so that the U.S. can remain an energy leader.

“Oil and gas prices are low today, but they won’t be low forever,” Murkowski said. “As oil and gas production is heavily capital intensive, investments must be made well in advance for projects to come online when increased production is needed. When oil prices reached all-time lows in Alaska, the state worked diligently to ensure that our public policy remained attractive to resource investment. That should be our goal across the nation: to ensure that America remains an attractive place to produce the resources we need, and will use, right here at home.”

Murkowski encouraged the government to update policies to encourage oil and gas development at all price levels. She added that current policy serves as a disincentive for domestic production, as leasing and permitting regulations are difficult. Murkowski said that she was confident that if the policies changed, investment in oil and natural gas could boost job creation and local economies throughout the country.

Murkowski currently serves as the chairman of the Senate Committee on Energy and Natural Resources. At the hearing, she also released the first issue of a new report, “The Alaska Exception: Energy and the Frontier.” The report will serve as a guide to encourage Alaskan energy investment.