As independent producers, royalty owners and our service industry partners, we are all united together – partisanship aside – to educate national decision-makers on who we are, what we do, and why the survival of the independent domestic energy industry is so vital to the nation’s economy.
In order to be able to continue our industry's pursuit of North American energy independence, DEPA must:
Continue to utilize safe, proven technology for hydraulic fracturing and horizontal drilling.
America is becoming less dependent on foreign oil. And it’s because of advanced technologies in energy production, including horizontal drilling and hydraulic fracturing. Experts suggest that without continued use of these technologies, we would lose a substantial percentage of domestic natural gas and oil production within five years. Without continued use of this technology, real GDP would decrease by $374 billion and employment would plummet by 2.9 million jobs by 2014.
The safe and environmentally-sound application of these technologies is helping the US achieve energy independence – a goal that was unheard of less than a decade ago. A vast majority of Americans endorse energy independence as a national top priority. Americans realize that energy independence strengthens our country by enhancing national security and reinforcing our position in the global economy.
Energy independence has an added benefit of easing pressure on the national budget, by reducing the necessity for military spending on war to defend foreign oil supply sources.
Curtail unnecessary regulations imposed by the EPA and other federal agencies.
“Balance” must be the axiom for DEPA as it relates to environmental regulations. However, what we see increasingly from federal agencies today is an overreach in terms of new and more onerous regulations, coupled with a disregard for long-standing state regulatory systems.
Businesses pay billions of dollars a year to try to keep up with accumulative ever-stricter federal regulations. The US oil and gas industry is not immune to these costs of doing business, but eventually, the regulations levied by the EPA, US Fish and Wildlife Service, OSHA and other federal agencies will no longer produce a benefit to the public which exceeds the cost. Just how much are federal regulations costing our economy?
In 2009, businesses paid more than $1.75 trillion – nearly 12% of America’s total GDP – to keep up with federal regulations. Much of these costs were passed on to consumers. One can imagine that when federal agencies continue to impose burdensome and duplicative regulations on the domestic oil and natural gas industry, they could severely cripple the entire economy. Energy costs will rise as a result, less high-paying jobs will be available, and American consumers’ standards of living will deteriorate.