Independent Petroleum Association of America President and CEO Barry Russell responded to President Obama’s 2014 State of the Union speech:
“IPAA welcomes President Obama’s embrace of natural gas in his State of the Union address. His focus of natural gas as an essential part of his “all of the above” energy strategy demonstrates the great gains America’s independent producers have made in bringing this energy potential to reality.
“America’s independent producers, who drill 95 percent of our nation’s oil and natural gas wells, developed hydraulic fracturing, the technology that spearheaded the shale energy revolution – a revolution that is indeed creating jobs and bringing manufacturing back to our shores. The President rightly praised the nation’s decreasing oil imports, another product of the groundbreaking gains in oil production achieved by the industry.
“Natural gas is proof that the oil and natural gas industry can supply American energy and power the economy, all the while protecting the environment. As the President highlighted, it is a fuel that has lowered our emissions and continues to clean up our air. America’s independent producers have been and continue to be committed to developing natural gas and oil safely.
“President Obama mentioned the importance of the permitting process in continuing America’s energy progress. We agree and hope to work with the administration to streamline the permitting of oil and natural gas projects. We also encourage the President to rethink his call to repeal the industry’s tax provisions. These provisions are typical business deductions absolutely critical to growing oil and natural gas production and the boost in economic growth and energy security that stems from development.”