IPAA independent petroleum association of america, america's oil and gas producers

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For Immediate Release
June 22, 2010


Judge Ruling to Lift President Obama’s Offshore Oil, Natural Gas Moratorium Important to America’s Independent Producers

WASHINGTON - Earlier today, a federal judge in New Orleans ruled to lift President Obama's six-month offshore domestic oil and natural gas exploration moratorium. Following the ruling, Bruce Vincent - chairman of the Independent Petroleum Association of American (IPAA) and president of Houston-based Swift Energy - issued this statement:

"Today's ruling is important for America's independent oil and natural gas producers, for our nation's energy security, and for the Gulf Coast's struggling economy. This misguided, hastily implemented moratorium fundamentally failed to recognize how critical America's oil and natural gas industry is to the livelihoods of so many Gulf families.

"Putting more job-creating American energy off-limits, and discouraging the production of our homegrown oil and natural gas will only deepen our nation's foreign energy dependence, leading to even more unstable prices for consumers across the country. As communities and families in the Gulf continue to struggle through the ongoing crisis, they should be heartened to know that the ruling today will help secure the jobs and livelihoods of tens of thousands of Americans."

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IPAA is the national trade association representing oil and natural gas producers that drill 90 percent of the nation's oil and natural gas wells. These companies account for 68 percent of America's oil production and 82 percent of its natural gas production.