Jun 29, 2017 IPAA Applauds Opening of Comment Period to Expand Offshore Energy Development
WASHINGTON, D.C. – Today, President Donald Trump announced the Interior Department will open a public comment period for a new Five-Year National Offshore Oil and Gas Leasing Program on the Outer Continental Shelf (OCS). The announcement comes in the midst of The White House’s Energy Week, during which the Administration has touted the critical role of robust American oil and natural gas development for our economy, security, and environment. Following the announcement, Dan Naatz, IPAA Senior Vice President of Government Relations and Political Affairs, released the below statement:
“Today’s decision is another move in the right direction for American energy development. IPAA is pleased to see President Trump and Interior Secretary Zinke’s leadership on this issue for the benefit of our economy, workforce, and national security. Today’s announcement gives confidence for the future that this administration recognizes the benefits to be gained from safe, responsible development of America’s abundant natural resources.
“Offshore production is a highly regulated process that is underscored by advanced technological innovation and a commitment to our environment and safety. IPAA has long-advocated for opening access to all areas of the Outer Continental Shelf (OCS), including the Eastern Gulf of Mexico, the mid-Atlantic, and Alaska’s waters. In 2009, investment offshore by America’s independent producers accounted for $38 billion in economic benefits, more than 200,000 jobs, and $10 billion in federal and state revenue and royalty payments. IPAA looks forward to working with the Interior Department and this administration to provide comment on the new Five-Year Program to identify offshore areas to consider and to help achieve these great, job-creating benefits once again.”
According to the announcement, the 2017-2022 Five Year Program will continue to be executed starting this summer until the new program is complete. The notice will be published in the Federal Register on Monday, July 3 and open for comments for 45 days.
About the Independent Petroleum Association of America
The Independent Petroleum Association of America (IPAA) is a national upstream trade association representing thousands of independent oil and natural gas producers and service companies across the United States. Independent producers develop 90 percent of the nation’s oil and natural gas wells. These companies account for 54 percent of America’s oil production, 85 percent of its natural gas production, and support over 2.1 million American jobs. Learn more about IPAA by visiting www.ipaa.org and following @IPAAaccess on Twitter.