HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

Providing coverage of Alaska and northern Canada's oil and gas industry
March 2005

Vol. 10, No. 10 Week of March 06, 2005

DOE aims to end research funding

Rose Ragsdale

Newly appointed Secretary of Energy Samuel Bodman told the Senate Energy and Natural Resources Committee March 3 that his department has cut oil and gas research out of its proposed $23.4 billion budget along with a number of other energy programs that took complete or partial hits to funding.

Bodman said DOE’s 2006 budget is $475 million smaller than its 2005 counterpart, mainly because of the Bush administration’s need to increase money for Homeland Security and the War on Terror.

“With oil at $50, the industry is in better financial shape than it has been in many years,” Bodman told the committee. “They ought to be able to spend money on research themselves.”

Alaska Sen. Lisa Murkowski questioned the move, saying new technologies will be needed to enable the country to adapt to and mitigate climate change and government funding is critical to unlocking unconventional gas resources such as gas hydrates. Alaska has a gas hydrates resource of 32,000 trillion cubic feet, she added.

Bodman replied that the Bush administration had to make some “very tough choices,” but it is up to Congress what ultimately happens to the budget.






Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.