Sep 9, 2009 US House Hearing on Offshore Energy Production Encouraging, Says IPAA
WASHINGTON – Barry Russell, president and CEO of the Independent Petroleum Association of America (IPAA), issued the following statement today regarding the U.S. House Natural Resources subcommittee hearing on bipartisan legislation aimed at lifting federal restrictions on offshore energy development:
“The world recently marked the 150th anniversary of the discovery of oil in Titusville, Pennsylvania. America’s natural resources, especially oil and gas – and the hard working men and women who responsibly, effectively and tirelessly produce these energy forms – have enabled our nation to grow and remain the economic envy of the world.
“And while some of the debate in Washington continues to focus on how to discourage domestic oil and gas production – through burdensome federal regulations and even higher taxes – today’s hearing was an honest, forthright and energizing discussion about the role that affordable, available energy will continue to play in our economy. It is encouraging that Democrats and Republicans are coming together, joining hands, and working to end the ban on offshore energy production.
“We have the resources, the technology, the workforce and the know-how to deliver affordable energy to Americans who need it and deserve it. And as our top global competitors – including Russia in Cuban waters just miles from Florida’s coast and Brazil with assistance from the U.S. government – continue to expand offshore energy production, America’s independent energy producers – who are responsible for 9 out of 10 wells drilled here at home – will continue to fight for expanded energy access, offshore and on, here at home.”
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.