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Houston (28 April 2017) – Today, President Trump signed an Executive Order that instructs the Department of Interior to review offshore drilling locations and begin streamlining regulation governing offshore development. In response, IADC President Jason McFarland issued the following statement:
“IADC members are thrilled that the President is continuing to push for energy policies that facilitate energy exploration and production, which are critical to promoting energy independence and fueling the U.S. economy. The U.S. currently produces more than 9.2 million barrels of oil per day, but is relying on nearly 8 million barrels per day of foreign imports. Today’s Executive Order is an encouraging sign that this administration is committed to more fully realizing U.S. energy independence. Tapping the unrealized potential of offshore areas that have thus far remained unavailable for oil and gas exploration and leasing gets us closer to this goal, and of course, obtaining oil from our own U.S. reserves also has the added benefits of job and taxes, which contribute to the overall economy.”
IADC and its members look forward to working with the Administration to streamline regulation and remove requirements that are not cost-effective.
Since 1940, the International Association of Drilling Contractors (IADC) has exclusively represented the worldwide oil and gas drilling industry. IADC’s mission is to catalyze improved performance for the drilling industry by enhancing operational integrity and championing better regulation to facilitate safer, cleaner and more efficient drilling operations worldwide. For more information, visit the IADC website at www.iadc.org.