Oil and Gas Development on U.S. Outer Continental Shelf Important for Jobs, Economy

Oil and Gas Development on U.S. Outer Continental Shelf Important for Jobs, Economy

Houston (12 July 2017) – Today, the U.S. House Natural Resources Subcommittee on Energy and Mineral Resources hosted a hearing to evaluate federal offshore oil and gas development on the U.S. Outer Continental Shelf (OCS). In response to the testimony, IADC President Jason McFarland issued the following statement:

“IADC thanks the Committee for holding this hearing to discuss responsible development of our nation’s offshore oil and gas reserves. Offshore oil and gas is important as its operations support millions of American jobs, and contributes $2.8 billion in federal revenues, which has a large impact on the U.S. economy. During today’s hearing, opposing witnesses discussed several perceived roadblocks to further development, including clean air, clear water and recreational hunting and fishing. Having a robust oil and gas industry isn’t mutually exclusive of these environmental concerns, and in fact, oil and gas operations are conducted within the strict confines of U.S. environmental regulations, with many companies going above and beyond what is required. IADC continues to support a U.S. offshore energy policy that provides further access to the OCS, and has publicly encouraged Interior to review the offshore leasing plan to incorporate more areas for development.”

About IADC

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.