November 26, 2014
WASHINGTON (AP) - Executives of the biggest oil companies are telling Congress that expanded drilling off the Atlantic and Pacific coasts will produce needed oil and gas and generate thousands of jobs.
The president of Shell Oil Company - Marvin Odum - said oil will remain a major source of energy in the coming decades and be a transition to other energy sources. Odum told the House Natural Resources Committee that development of the country's offshore oil and gas will produce jobs and help in the economic recovery.
Critics argue it will take years before new leases would be issued and any oil would be produced from waters that have been off-limits. They argue drilling would have little impact on short-term economic recovery.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.