The Independent Petroleum Association of America (IPAA) is supportive of multiple House bills that will be marked up in hearings in the Energy and Commerce Committee and the House Natural Resources Committee.
In the Energy and Commerce Committee, IPAA supports the “Protecting American Energy Production Act” sponsored by Congressman Duncan (R-SC).
This legislation prohibits the President from declaring a moratorium on the use of hydraulic fracturing unless Congress authorizes such a prohibition. The bill also expresses the sense of Congress that states should maintain primacy for the regulation of hydraulic fracturing for oil and natural gas production on state and private lands.
IPAA also supports the “Natural Gas Tax Repeal Act” sponsored by Congressman August Pfluger (R-TX).
This legislation would strike language designed to establish a tax on natural gas imposed on America’s independent oil and natural gas producers as part of the “Inflation Reduction Act” passed by Congress last year.
“The Methane Emissions Reduction Program (MERP), which was passed as part of last year’s Inflation Reduction Act, is an inappropriate and unworkable methane emissions tax. This tax was included despite not ever being considered in a hearing, receiving expert testimony in favor or opposition, no economic analysis, and no consideration of efficacy. Instead of looking at this issue holistically, the MERP was on the simple premise that if something is taxed, less of it will be produced.”
We also support legislative efforts to bring efficiency and certainty to liquified natural gas (LNG) infrastructure and export terminals.
IPAA submitted a letter to the Energy and Commerce Committee this week in support of the legislation above. IPAA President & CEO Jeff Eshelman and Chairman Steven Pruett testified in support of the legislation at two separate Energy & Commerce Committee hearings in February – Eshelman (submitted testimony, video) in Washington, Pruett (submitted testimony, video) in Midland, TX. Watch also:
In the House Natural Resources Committee, IPAA is pleased to support H.R.1335, the “Transparency, Accountability, Permitting, and Production of American Resources Act”, (TAPP Act). The TAPP Act would restart the leasing process for oil, natural gas and coal development and streamline the permitting process for all forms of energy and mineral development on federal lands and waters; reform the National Environmental Policy Act (NEPA) to establish timelines for and clarify the scope of environmental reviews; roll back harmful royalties and fee increases imposed on energy production; and ensure parity in energy revenue sharing for states with onshore and offshore energy development.
From our letter of support submitted to the committee this week:
“IPAA believes that many of the reforms laid out in the TAPP Act will help to revitalize oil and gas production on federal lands and waters to the benefit of the nation. The “multiple-use mandate” provided in the Federal Lands Policy and Management Act (FLPMA) requires the BLM to balance the resources and uses of public lands to the benefit of the people. While this mandate includes far more
Source: www.worldoil.com
Author: Independent Petroleum Association of America