Begich urges examination of Egypt's energy resources

Senator urges to hold hearing in light of country's political uncertainty

Posted: Sunday, February 06, 2011

Sen. Mark Begich, D-Alaska, is urging the Senate Committee on Armed Services to examine Egypt’s energy potentials and challenges as soon as possible in light of its current political uncertainty.

In a letter dated Feb. 1, Begich urges Sens. Carl Levin and John McCain, the committee’s chair and ranking member respectively, to hold a hearing to examine “regional implications of instability in Egypt, potential impact to our allies and Department of Defense operations in the Middle East if there are disruptions in oil and other energy exports, and finally, to examine the national security impact of continued reliance on foreign countries for oil.”

Begich states America and its European allies depend on oil from Egypt or transportation trough it. He says speculation on the impact of the country’s protests and governance have produced a large jump in oil prices.

In the letter, Begich states, “As a senator from one of America’s leading energy-producing states, I believe the instability in Egypt underscores our need to expand our domestic energy production. Today federal roadblocks are preventing the development of billions of barrels of oil and trillions of cubic feet of natural gas in Alaska which would create jobs for Americans and enhance our nation’s energy security with reliable energy.”

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