WASHINGTON – This week, the U.S. House of Representatives approved H.R. 4480—The Domestic Energy and Jobs Act—a comprehensive bill that stands to strengthen American energy production and security while spurring job creation. As IPAA highlighted following the bill’s approval, the United States has abundant reserves of both oil and natural gas. The safe, increased and steady development of these vital job-creating energy sources is fueling America—creating economic opportunities, increasing our energy security, and keeping our cars in motion. As the Oil and Gas Journal highlights:
“Independent Petroleum Association of America Pres. Barry Russell said the legislation would scale back roadblocks for producers and propel the US on a path toward economic expansion, more jobs, and increased energy security. “In particular, the legislation includes a much-needed check on EPA with the creation of an inter-agency committee that would assess the effect of proposed rules on the economy,” Russell noted.”
This important piece of energy and job-creation legislation will advance the already remarkable work of America’s independent oil and natural gas producers, small businesses—with an average of 12 employees—who are responsible for the development of 95 percent of Americas oil and natural gas wells from the Gulf of Mexico to the heart of the American West. And the entire nation is taking notice.
Here’s what they’re saying from coast to coast about the positive impacts of American energy production:
- Lease sale brings about massive impact for Louisiana. While the oil and gas industry is the engine that drives the Louisiana economy, the ripple effect from a lease sale like this one reaches far beyond the acreage of the Gulf of Mexico. This lease sale will create thousands of jobs for rig workers, those working on offshore vessels, helicopter companies, all the way inland to the hotels, restaurants and shopping centers. The oil and gas industry must continue to produce consumer-ready resources, create thousands of jobs for our work force, and remain committed to the safety of our communities and the preservation of our environment to which we have been entrusted. (Daily Advertiser, Op-Ed, 6/21/12)
- SC governor promotes offshore drilling. “Offshore drilling is where we need to be,” said Haley. “This will bring so many more jobs.” The state’s jobless rate was 8.8 percent in April. Haley said those who might protest against such drilling have valid concerns, but, she added, “We’re not compromising tourism to do this.” Duncan said he plans to introduce similar legislation in the House. “This legislation will help our state lead the way in energy innovation,” said the congressman from Laurens. (Associated Press, 6/12/12)
- IHS: Unconventional gas supporting a million jobs. A new report from IHS found that more than 1 million jobs in the lower 48 are supported by unconventional gas drilling. By 2015, the report continues, those jobs are expected to grow to 1.5 million. (State Journal, 6/14/12)
- Economists: Gas Boom for Real, Gives U.S. Edge. The abundance of natural gas from the Utica and Marcellus shale plays will provide U.S. manufacturers with a sizeable competitive advantage – low prices and reliable supplies close by, the chief economist of ConocoPhillips, Marianne Kah, says. (Business Journal, 6/22/12)
- Can the Natural Gas Sector Save the U.S. Economy? Indeed, the natural gas industry supports some 2.8 million jobs — either directly through companies engaged in exploration and drilling or indirectly through manufacturers that use the fuel as a raw material, according to the American Gas Association. The real potential for economic impact, however, lies in the vast reservoirs of shale gas that are newly accessible through hydraulic fracturing. (CNBC, 6/20/12)
- States lead the way, White House backs FracFocus as preferred disclosure method. “As an administration, we believe that FracFocus is an important tool that provides transparency to the American people,” Heather Zichal, deputy assistant to the president for energy and climate change, said during questions after a luncheon speech to the Natural Gas Roundtable in Washington, D.C. (E&E News, 6/21/12)