WASHINGTON, D.C. – Independent Petroleum Association of America (IPAA) President and CEO Barry Russell issued the following statement in response to the passage of “The Domestic Energy and Jobs Act”:
“IPAA commends the House of Representatives for passing ’The Domestic Energy and Jobs Act.’ The problem that America’s independent producers face is certainly not a lack of energy— the United States has abundant reserves of both oil and natural gas. Instead, federal regulatory overreach which edges out state jurisdiction is the main obstacle to an improving American energy sector.
“In particular, the legislation includes a much-needed check on the EPA with the creation of an interagency committee that would assess the effect of proposed rules on the economy. Thank you to those representatives who voted for this comprehensive, commonsense energy legislation.
“Development of U.S. natural gas and oil has spurred a rebirth in states’ economies across the nation, not to mention a revitalization of American manufacturing and chemical industries. IPAA represents more than 7,500 companies who drill 95 percent of the U.S. oil and natural gas wells both onshore and offshore. These companies add jobs to the U.S. economy every day, and will continue to do so if not burdened by unnecessary federal intrusion.
“‘The Domestic Energy and Jobs Act’ would scale back roadblocks to access for America’s independent producers and propel the United States on a path toward an expanding economy, lower unemployment, and a more stable energy future.”