The exploration of oil and natural gas resources on the Outer Continental Shelf (OCS) of the United States is a key component of a comprehensive energy policy.  To achieve energy security, we must be open to the exploration of domestic sources of oil and natural gas combined with strong conservation and environmental protection measures. 
 
That is why I recently introduced legislation that would allow oil and natural gas exploration and production in the Outer Continental Shelf.
 
The Virginia Outer Continental Shelf Energy Production Act of 2011 would also expand the federal government’s map of the mid-Atlantic exploration area to more accurately and equitably reflect the extent of Virginia’s outer continental shelf resources.  
 
The bill directs the President to bring Virginia’s offshore energy resources into the Department of Interior’s 2012-2017 leasing plan.  It also directs half of any leasing revenues to be paid to Virginia to support a range of projects including land and water conservation efforts, development of clean energy resources, transportation and other infrastructure improvement projects across the Commonwealth.
 
The U.S. Energy Information Administration forecasts that the United States will import almost 10 million barrels a day of crude oil and refined petroleum products in 2011, which is about half of all U.S. fuel consumption. America's dependence on foreign oil is driving U.S. trade deficits: in 2010, the U.S. imported $252 billion in petroleum-related products, compared to $188 billion in 2009. The number of barrels was about the same, but oil prices jumped from $57 to about $75 per barrel. Oil is now trading around $100 a barrel.
 
In 2008, Senator Webb cosponsored similar legislation with then-Senator John Warner (R-VA) to allow the Commonwealth to conduct energy exploration activities in the outer continental shelf with revenue-sharing provisions.  In January 2010, Senators Webb and Mark Warner sent a letter to U.S. Interior Secretary Ken Salazar insisting that Virginia's Lease Sale 220 remain on schedule.
 
Specifically, the Virginia Outer Continental Shelf Energy Production Act of 2011 would:
 

• Direct the Department of Interior to include Lease Sale 220 in the nation’s 2012-2017 five-year oil and gas lease plan.
• Direct the Department of Interior to revise the administrative map of the Mid-Atlantic outer continental shelf (OCS) to more accurately and equitably reflect resources off of Virginia’s coast, and to include those resources in the 2012-2017 leasing plan.
• Direct the Secretary of Treasury to assign 37.5% of revenues derived from Virginia’s OCS resource development to the Commonwealth of Virginia.
• Direct the President to assign an additional 12.5% of any revenues toward land and water conservation efforts, public transportation projects and alternative energy development projects in Virginia.
• Direct the Secretary of the Interior to withhold any tracts available for leasing if the President, in consultation with the House and Senate Armed Services committees determines that leasing would conflict with military operations relating to national security

 
A copy of the legislation can be found here: http://www.scribd.com/doc/59451813/Virginia-Outer-Continental-Shelf-Energy-Production-Act-of-2011