API Applauds Obama's Move to Create Fracking Interagency
The American Petroleum Institute (API) welcomed President Obama's executive order establishing an interagency working group to "facilitate coordinated Administration policy efforts to support safe and responsible unconventional domestic natural gas development."
"We're pleased that the White House recognizes the need to coordinate the efforts of the ten federal agencies that are reviewing, studying or proposing new regulations on natural gas development and hydraulic fracturing," said Jack Gerard, API president and CEO, after attending a White House meeting on the executive order today. "We have called on the White House to rein in these uncoordinated activities to avoid unnecessary and overlapping federal regulatory efforts and are pleased to see forward progress."
Gerard also cautioned that we need to look first to the states as the historic regulators of natural gas before applying additional layers of federal regulation from Washington.
"There are already strong state regulatory systems in place," Gerard said. "Adding potentially redundant federal regulation could stifle the kind of investment that has led to lower energy prices for consumers, more American jobs, and increased energy security."
Gerard added that the natural gas boom, as well as the oil development in North Dakota and other tight oil areas, would not be possible without hydraulic fracturing technology.
"The president's support of natural gas reminds us that we are reliant on technologies developed by the industry that make it possible to develop this energy resource," Gerard said. "We have one of the largest known reserves of natural gas in the world, and we need public policies based on sound science in order to develop this affordable source of energy."
"API and its members remain committed to the safe and reliable production of American's vast natural gas resources and look forward to working with the administration and continued coordination with the states to meet America's growing energy demands," Gerard said.
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