IPAA Responds to President Obama’s Energy Plan

IPAA Responds to President Obama’s Energy Plan

WASHINGTON, D.C. – Independent Petroleum Association of America (IPAA) President and CEO Barry Russell issued the following statement in response to President Obama’s energy plan released today:

“IPAA applauds the central role that natural gas development plays in the President’s plan for a ‘Clean and Secure Energy Future.’ We have more than 100 years supply of this clean-burning, job-creating, consumer-helping fuel.

“IPAA encourages the administration to empower states to continue their successful regulation, and to allow producers to deliver the energy security that comes from increasing the responsible production of oil and natural gas. Our industry is hopeful that the expedited permitting efforts outlined in the President’s plan will enable independent producers to continue growing our nation’s oil and natural gas supplies.

“IPAA welcomes the President’s new commitment to investing in a more efficient energy project permitting process on federal lands. This is badly needed, because, under the Obama administration, permitting on federal lands has taken significantly more time than any state regulatory permitting agency. While permitting is one part of the process that needs to be addressed, we look forward to also seeing the administration’s commitment to offering up parcels for bid.

“After all, the noted gains in oil and gas production have occurred on private and state lands, from the Eagle Ford in Texas to the Marcellus in Pennsylvania to the Bakken in North Dakota. On federal lands, oil and natural gas production has fallen by more than 40 percent compared to 10 years ago, according to data from the Energy Information Administration (EIA).

“The President’s proposal ignores two crucial elements necessary for a successful energy plan. States have begged to be a partner with the federal government in their energy future, to be allowed to explore their offshore resources, but the Obama administration has been slow to help. IPAA urges the administration to open up the Eastern Gulf of Mexico for development, which is expected to have a great deal of resources. If the President wants to garner more federal revenue, opening up federal lands and waters is the best way to do so.

“Finally, the President’s plan does not comment on the role of liquefied natural gas (LNG) exports in securing our nation’s energy future. Exporting natural gas to countries that need it will ensure that more production takes place, which would grow our economy and assure its prominent place in our nation’s fuel mix.”

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