The Domestic Energy Producers Alliance is a nationwide collaboration of 22 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.
“For too long, America has been held hostage to the predatory pricing tactics of OPEC,” said DEPA Chairman Harold Hamm. “Today, American policymakers have taken a stand against OPEC’s strategy to run down the price of oil and run US independent oil and natural gas producers out of business. Through this historic legislative action, America will reassert our nation’s energy leadership.”
DEPA has been at the forefront of the exports issue for the past three years, urging policymakers to allow the US to export its light, sweet oil and unleash American competitiveness on global energy markets. [more]
Now that we have all taken our victory lap over getting the crude oil export ban repealed – a monumental accomplishment – it is time for DEPA to turn its attention to what could happen in Congress in 2016 and when a new Administration takes office in 2017.
You never can rest on your laurels in this business. There are always new challenges.
As a general proposition, not much comes out of Congress during a presidential election year but that doesn’t mean we shouldn’t closely monitor everything being discussed in DC in the coming months.
Original: Journal Record 01/08/2016
“The moment has come for the US to deploy its oil and gas in support of its security interests around the world.”
These are the words of Former Secretary of Defense and CIA Director Leon Panetta in support of US crude oil and natural gas exports last March.
Thankfully, that moment has finally arrived. On Dec. 31, America exported its first barrel of crude oil since Congress lifted the 40-year-old ban. With two of OPEC’s largest producers severing diplomatic ties less than a week later, American energy is entering world markets at a crucial time.
Original NewsOK.com 01/15/2016
The end of the country's ban on crude oil exports has paid an immediate dividend and will have long-term benefits for Oklahoma.
The two most-used pricing markers for crude oil are Brent and West Texas Intermediate (WTI). The price of almost 75 percent of worldwide crude contracts is set on the Brent benchmark. The WTI price is set at Cushing, the pipeline crossroads of America, and determines the price of crude oil in Oklahoma and across much of the United States.