I would like to thank my friends, Chairman Ken Calvert and Ranking Member Jerry Costello, for convening this important hearing.
Methane hydrates are little-known, but have a huge potential as a new energy resource.
Methane hydrates are defined as methane in a crystalline, highly pressurized form, and are found both on the ocean floor and in some areas of the Arctic permafrost. As a potential energy source, methane hydrates are present on earth in more than double the quantities of existing fossil energy supplies worldwide. At the same time, methane hydrates pose a threat to us as well, for their potential to depressurize and enter the atmosphere, contributing to greenhouse gas accumulations. For all these reasons, methane hydrates definitely deserve further study at this time. I have had the pleasure of working with the Chairman, the Ranking Member, and their staffs on legislation that would further define and extend the current inter-agency program for research into methane hydrates.