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News & Information » Press Releases
Response to the President’s Statement Regarding Climate Change Legislation Washington, D.C. – The Independent Petroleum Association of America (IPAA) today released the following statement in response to the President’s statement regarding climate change legislation.FROM BUDDY KLEEMEIER, CHAIRMAN, INDEPENDENT PETROLEUM ASSOCIATION OF AMERICA IPAA represents the companies that drill 90 percent of the nation's oil and natural gas wells. These companies produce 82 percent of American natural gas and 68 percent of American oil. “Last week, the President addressed the need for balanced climate change legislation and set his goal for stopping the growth of U.S. greenhouse gas emissions by 2025. “President Bush was right to note that we cannot favor one energy source above another as we push harder for the technologies that will allow for affordable, sustainable fuel source in the future. His earnest intentions however, were diminished by failing to mention natural gas as an energy source we must embrace. It is an omission that underscores the divide between the perception delivered by our policy makers, and the truth about our energy supply regarding natural gas. “A vital component of our energy supply, natural gas generates 20% of the nation’s electricity and is used to heat half of U.S. homes. It is a truly domestic source of energy. In 2006, 81 percent of the natural gas consumed in the United Sates was produced in the U.S. This is also sustainable. In proven reserves the U.S. has a 10-year supply of natural gas and in total there is at least 120 years of undiscovered, yet recoverable resources. To achieve these numbers require access for exploration and production, something the government has been slow and often inflexible in providing. “Though natural gas shows nearly unparalleled promise as an energy source, the President and Congress have dragged their feet to a halt in acknowledging its potential. Congress continues to restrict access that could increase supply and potentially lower prices, and the President has now failed to defend an American produced energy source that, regardless of technological advances in alternative sources, will remain a staple of our energy supply for years to come. It seems that while our leaders claim to be looking for advances that will provide cleaner, sustainable energy sources for the future, they are blind to abundant and proven source right below their feet. “As we wait for policy makers to embrace the power and potential of American natural gas, American independent oil and gas companies continue to re-invest their income back into the United States. Though exploration costs are increasing, non-conventional resources – such as shale gas, tight sands, and coal bed – are booming around the country, and new technologies are producing impressive volumes of natural gas from fields that were considered mature. Domestic natural gas production increased 7 percent during 2007 as a direct result of independent producer drilling. “In the United States we have the capability and the regulation in place for the safest, most environmentally friendly production on the planet. The independent producer is proven and capable of driving this effort. It’s time some of our leaders in Washington show similar mettle.” ### 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.
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Independent Petroleum Association of America, 1201 15th Street NW, Suite
300, Washington, DC 20005 | Phone: (202) 857-4722
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