Oil and gas industry associations send letter of support for SECURE Act

Eight oil and natural gas industry associations sent a letter to the U.S. House Natural Resources Committee Monday, expressing their support for the Strengthening the Economy with Critical Untapped Resources to Expand American Energy Act (SECURE Act).

The legislation is designed to expand access to energy resources on the U.S. Outer Continental Shelf (OCS) and onshore federal lands, provide regulatory certainty and streamline energy permitting processes.

“The SECURE Act serves to encourage further development of our nation’s abundant natural resources,” Jason McFarland, president of the International Association of Drilling Contractors (IADC), said. “The act would eliminate many of the burdensome bureaucratic roadblocks that currently prohibit industry from accessing the proven oil and natural gas reserves in the U.S.”

The comments were sent by the following organizations: IADC, the National Offshore Industries Association, the American Exploration and Production Council, the American Petroleum Institute, the Independent Petroleum Association of America, the U.S. Oil and Gas Association, the International Association of Geophysical Contractors, and the Petroleum Equipment & Services Association.

“Additionally, provisions included in the Act would provide for revenue sharing among the coastal states who host production off their shores,” McFarland said. “Most importantly, it sends a clear signal that the U.S. is serious about its stated goal of energy independence and that it is committed to an industry that not only powers our homes and cars but also contributes billions to the economy.”