The API has urged swift enactment of H.R.4899, which could allow greater domestic oil and natural gas development in federally controlled areas offshore, onshore and in Alaska while streamlining leasing and permitting. The US House of Representatives was expected to vote in favour of the bill on June 26.
US production of crude oil and natural gas on state and privately owned lands rose from 2009 – 2013 by 61% and 33%, respectively, according to the Congressional Research Service. On federal lands and offshore areas, production of crude oil dropped by 6% and natural gas by 28% over the same period.
API Upstream Group Director Erik Milito said, ‘an energy renaissance on state and private lands has created hundreds of thousands of jobs and helped consumers save on energy. But due to obstacles imposed by the federal government, production from federal lands has significantly lagged behind the rest of the country.
‘Reducing obstacles to oil and natural gas production on federal lands and waters could kick our economy into high gear, create jobs across the country and generate billions of dollars in revenue for the government.’
The legislation also allows every coastal state the opportunity to share a percentage of government revenues generated by energy production off its coast.
Adapted from press release by Claira Lloyd
Read the article online at: https://www.oilfieldtechnology.com/exploration/30062014/api_want_more_production_on_fed_land/