House Leadership’s Domestic Energy and Jobs Act Paves the Way for Responsible Development of Homegrown Energy and a Prosperous American Economy

House Leadership’s Domestic Energy and Jobs Act Paves the Way for Responsible Development of Homegrown Energy and a Prosperous American Economy

WASHINGTON, D.C. – Independent Petroleum Association of America (IPAA) President and CEO Barry Russell issued the following statement in response to the introduction of “The Domestic Energy and Jobs Act”:

“’The Domestic Energy and Jobs Act’ is a necessary step forward to move America toward a reliable, stable energy future. While the U.S. economy has remained stagnant for months on end, America’s booming oil and natural gas industry has been its bright light – creating hundreds of thousands of high-paying jobs and generating billions in revenue all across the country. Look no further than North Dakota, which boasts a 3 percent unemployment rate, thanks in large part to the success of the Bakken shale formation. However, in order for this economic windfall to continue, the U.S. must put forth a sound, national energy policy that encourages the production and use of all forms of domestic energy, including oil and natural gas.

“America’s independent producers have faced a plethora of obstacles to develop energy resources on federal lands under the Obama administration. IPAA commends U.S. House Natural Resources Committee Chairman Doc Hastings (R-WA) for spearheading the effort to pass legislation that will streamline and expedite the way federal lands are managed, and in turn, promote the safe and responsible development of America’s oil and natural gas reserves.

“The entire nation’s standard of living and the health of the economy are inextricably tied to a robust energy industry. And independent producers rely heavily on a cohesive partnership with the federal government to ensure that goals set for energy production on federal lands are met. Three key pieces of legislation packaged into this bill, which were introduced by Rep. Cory Gardner (R-CO), Rep. Scott Tipton (R-CO) and Rep. Doug Lamborn (R-CO), address the complexity of current regulations for federal lands and aim to reduce the duplicative, bureaucratic red tape involved in the leasing, permitting, and exploration process. While the U.S. has reaped the benefits of increased energy production predominately on state and private lands, now is the time to step up production efforts on taxpayer-owned federal lands.

“IPAA represents more than 7,000 companies who drill 95 percent of the U.S. oil and gas wells both onshore and offshore. These producers stand ready to deliver the reliable, affordable energy essential to meeting the nation’s current and future energy needs. We look forward to working with congressional members on both sides of the aisle to help us further achieve this goal by advancing the energy and jobs legislation introduced in the House today. America can no longer afford to punt on how to move forward with a comprehensive, national energy policy. The time to act is now because a strong energy industry results in job creation, economic growth, improved balance of trade and strong energy security.”

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