Apr 17, 2015 America’s Independent Producers: Raising Fees Will Cause Our Small Businesses to Suffer
WASHINGTON, D.C. – Independent Petroleum Association of America (IPAA) Senior Vice President of Government Relations and Political Affairs Dan Naatz criticized the Obama Administration’s proposal to raise royalty rates on federal lands.
“Thanks to the advancement of new drilling technologies and the perseverance of the wildcatters, the United States is now the world’s leader in oil and natural gas production and American families are currently enjoying the benefits of low energy costs. However, at a time when the price of oil has dropped about 50 percent over the past seven months and coupled with new federal regulations for onshore producers, the Obama Administration’s proposal to increase onshore royalty rates will ultimately result in fewer American jobs, less energy production, and hurt our nation’s energy security.
“Simply put, raising fees on America’s independent producers – companies with an average of just 12 employees — will cause small, family-owned businesses to suffer and further discourage energy development on federal lands owned by U.S. taxpayers. The last thing the American people need is the federal government hindering good-paying jobs and stifling U.S. energy production. IPAA will be submitting formal comments on this proposal and we look forward to working with the Department of the Interior on this paramount issue for America’s independent producers.”
About the Independent Petroleum Association of America
The Independent Petroleum Association of America (IPAA) is the leading, national upstream trade association representing oil and natural gas producers that drill 95 percent of the nation’s oil and natural gas wells. These companies account for 54 percent of America’s oil production, 85 percent of its natural gas production, and support over 2.1 million American jobs.
