House Natural Resources Committee Chairman Rob Bishop (R-Utah) issued the following statement today regarding the Department of the Interior’s (DOI) updated assessment of the Permian Basin:

“The USGS’s latest assessment of the Permian Basin has doubled our nation’s onshore resources and is a homerun for our economy.  It is imperative that we continue to promote policies and technology that will allow our nation to harness this undiscovered wealth. I applaud Secretary Zinke and the Department of the Interior for the ongoing work that guarantees the nation’s thriving energy sector. Thanks to their leadership, the United States has launched to the forefront of global energy production. Today’s announcement only solidifies America’s goal for energy dominance, and highlights the continued importance Western states will play in the future of our country.”

Background

DOI’s announcement estimates that 71 billion barrels of oil currently reside in the Permian Basin. According to DOI, only 95 billion barrels are currently estimated onshore; thus, this reservoir in the Permian Basin would nearly double U.S. oil reserves.

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