For Immediate Release
Today the Biden Administration announced executive action that will restrict oil and natural gas leasing on federal lands and in federal waters. In response, IADC President Jason McFarland issued the following statement: “The executive actions announced by the Administration today only serve to further curtail the ability of America’s natural gas and oil producers to successfully operate.
For Immediate Release
Houston (27 January 2021) – Today the Biden Administration announced executive action that will restrict oil and natural gas leasing on federal lands and in federal waters. In response, IADC President Jason McFarland issued the following statement:
“The executive actions announced by the Administration today only serve to further curtail the ability of America’s natural gas and oil producers to successfully operate. Formulated with zero consultation from the industry members best positioned to assist the Administration in achieving its goals, these policies threaten thousands of good-paying energy jobs and jeopardize hundreds of millions of dollars in future royalty-based revenue that the industry creates for states and local communities.
Additionally, the indefinite nature of these actions hinders the proper planning and due diligence required to continue to safely and efficiently deliver energy to Americans everywhere.
With the number of active U.S. drilling rigs down 53% from pre-pandemic levels, over 415 rigs are currently offline. Each of these rigs would otherwise provide thousands of well-paying jobs to communities along our nation’s coasts and in the heartland.
The Administration claims that these policy developments are well-timed job creation efforts aimed at revitalizing a stagnant economy and increasing environmental stewardship. In fact, these actions come at a time in which America’s energy businesses are only just beginning to rebound from the economic shock of a global pandemic and commodity price war, and have the potential to severely hamper recovery as we move forward.”
ABOUT IADC
The International Association Drilling Contractors (IADC) is a non-profit trade association that is the global leader in advancing and promoting innovative technology and safe practices that bring oil and gas to the world’s consumers. More information.
###
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.