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Statement on the Gulf of Mexico Energy Security Act (S.3711)

Washington, D.C. - The Independent Petroleum Association of America (IPAA) today released the following statement on the Gulf of Mexico Energy Security Act (S.3711) cancelled suspension vote and its hope for a closed rule majority vote later this week.

FROM BARRY RUSSELL, PRESIDENT, INDEPENDENT PETROLEUM ASSOCIATION OF AMERICA

IPAA represents the companies that drill 90 percent of the nation's oil and natural gas wells. These companies also hold 90 percent of the leases in the Gulf of Mexico.

"We encourage the House to immediately schedule a closed rule vote to express the will of the majority. Passing the Gulf of Mexico Energy Security Act (S.3711) is an important first step to improving the energy security of our country. We urge members of the House to come together and act in the best interest of American consumers, American industries and America's energy future.

"We strongly discourage any plans to offer additional royalty amendments or a motion to recommit. A royalty amendment is already included under the Interior Appropriations bill and any subsequent provisions that remove royalty incentives for oil and gas producers will only weaken not strengthen America's energy production.

"We are in the last minute of the last hour to pass vital OCS legislation that opens previously restricted areas to safe and responsible energy production."

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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.