Western Energy Alliance: House Energy Package Restores Sanity to U.S. Development

H.R. 1 addresses delays in federal oil and natural gas leasing, permitting, and environmental reviews. Bill would repeal methane emissions tax, escalated royalty rates, and higher fees included in the Inflation Reduction Act. Natural gas is the number one reason the U.S. has reduced more greenhouse gas emissions than any other country.

Key Highlight:

*? The Alliance led a coalition of 25 oil and natural gas trade associations from across the country that sent a letter of support on H.R. 1 to leaders in the House.

Original Press Release:

DENVER, March 30 -- Western Energy Alliance issued the following news release:

- H.R. 1 addresses anemic federal oil and natural gas leasing and permitting

- A recent coalition letter shows broad industry support for the House bill

- Natural gas is integral to providing climate solutions

- U.S. oil production could be up to three million barrels more per day were it not for Pres. Biden’s policies

Western Energy Alliance today urged Congress to pass the Lower Energy Costs Act (H.R. 1) currently being debated in the U.S. House of Representatives. The bill addresses delays in federal oil and natural gas leasing, permitting, and environmental reviews. It also would repeal the methane emissions tax, escalated royalty rates, and higher fees included in the Inflation Reduction Act (IRA).

“Lawmakers are stepping up to address high gasoline and home energy prices after two years of the Biden administration’s unnecessary interference in energy markets. The growth of red tape over the past few years was not intended to protect the environment but to handcuff American oil and natural gas production in a misguided attempt to quickly transition to an alternative reality that does not exist. The result has been higher prices for all Americans,” said Kathleen Sgamma, president of the Alliance. “This bill is a welcome answer to government-imposed distortions to energy markets that have decimated the energy independence that America enjoyed just a few short years ago.”

?The Alliance led a coalition of 25 oil and natural gas trade associations from across the country that sent a letter of support on H.R. 1 to leaders in the House. The coalition emphasized the importance of

* restoring certainty in federal on- and offshore development

* removing barricades to vital infrastructure development

* providing sustainable climate change solutions

* restoring energy security and lower prices.

According to recent Bureau of Land Management (BLM) statistics, federal onshore leasing under the Biden Administration has reached record lows. In combination with other policies from the administration that target oil and natural gas production, American producers have been hindered from producing up to three million barrels of oil a day, according to a recent study by economist Stephen Moore.

Disclaimer: Graph can be viewed at: https://www.westernenergyalliance.org/pressreleases/house-energy-package-restores-sanity-to-us-development

?“Providing sustainable climate solutions is achieved in the House energy package. Lawmakers recognize natural gas is the number one reason the United States has reduced more greenhouse gas emissions than any other country,” added Sgamma. “Increased natural gas electricity generation has reduced more greenhouse gases than wind and solar energy combined because of its low-carbon profile and 24/7 reliability. Despite that real solution for addressing climate change concerns, last year the IRA increased taxes on natural gas as a means to reduce its production, distribution, and use. It’s a cost that will be felt by every American consumer in the push to electrify everything.”

[Category: Energy Equipment & Services, Oil & Gas Refining & Marketing, Oil & Gas Exploration & Production, Regulatory and Legal, ESG]

Source: Western Energy Alliance