The Domestic Energy Producers Alliance is a nationwide collaboration of 19 coalition associations – from California to West Virginia, Texas to Montana – representing about 10,000 individuals and companies engaged in domestic onshore oil and natural gas exploration and production (E&P). We believe in seeking common ground, and in common sense solutions to the challenges that face us in our businesses, including our relationship with the federal legislative and executive branches of government. In only its fifth year, DEPA now represents a majority of the individuals and companies responsible for the current renaissance in American oil and natural gas production.
Congress must lift the ban on US crude oil exports. The ban is a terrible relic of the Nixon era that harms the American economy. As Sen. Lisa Murkowski (R-AK) has pointed out, restrictions on oil trade effectively amount to domestic sanctions. Combined with a mismatch in refining capacity, the ban on oil exports is creating a significant discount for US light oil at no benefit to anyone except refiners and their foreign ownership. It has cost US states, producers and royalty owners $125 billion in lost revenue in four years, according to industry estimates.
Original, Journal Record 10/2/2015
One year into Saudi Arabia’s bold oil export strategy, it is becoming increasingly clear the kingdom’s plan to flood markets with excess crude has backfired miserably.
Sound economic reasoning would suggest a nation reliant on petroleum for 90 percent of its revenue would sell less of its crude oil when prices are low. Instead, during the current low-price environment, the kingdom has accelerated production to a record 10.6 million barrels per day as new supplies of oil from Iraq, Iran and America have emerged as a threat to Saudi market share.
I was watching FOX News Sunday recently when I saw columnist George Will make a very insightful comment. The panel was discussing Congressional gridlock. Will observed that the pubic shouldn’t blame Senate Republican Leader Mitch McConnell (R-KY) or House Speaker John Boehner (R-OH) for the gridlock. They should blame James Madison.
Will was citing the role of Madison in drafting the US Constitution which created a “balance of powers;” a form of government which requires action by both the Legislative Branch and the Executive Branch to pass legislation.
Original, Journal Record 09/11/2015
As Congress considers the Strategic Petroleum Reserve as a funding mechanism for critical infrastructure projects, such action must be tied to lifting the ban on crude oil exports.
With America’s transition from energy scarcity to abundance over the last decade, the Strategic Petroleum Reserve is no longer necessary. Authorized in the 1970s under Nixon-era price controls, the SPR was created at a time when everyone thought America was running out of oil. However, the oil marketplace of 40 years ago bears no resemblance to today’s market.
In most years, August is a time for vacations and preparations for the start of school. Generally, Washington is no exception as Congress takes its month-long recess the city typically slows to a crawl. That has not been the case this year.
A surprisingly raucous GOP primary, lead by insurgent Donald Trump, has energized cable news and talk radio. At the same time, the strength of avowed socialist Bernie Sanders has cast a shadow over the sense of inevitability around Hillary Clinton’s coronation as the 2016 Democratic nominee.