Barry Russell: Sapping the strength of energy producers

The Washington Times | March 1, 2016 | Barry Russell

In the last five years, the success of America’s oil and natural gas industry has taken our nation from energy dependence and scarcity to security and abundance.

The United States has achieved status as a global energy leader and American families are enjoying the benefits of low energy costs. But despite this dramatic production, America’s independent oil and natural gas producers are confronted with significant new challenges in the form of unbalanced global commodity markets and excessive new regulatory roadblocks from the federal government. Further, President Obama’s budget proposal places our nation, once again, at a clear disadvantage against unfriendly nations and oil cartels.

Instead, America’s policies should promote our abundant energy riches. Strengthening, not degrading, American oil and natural gas production is a much better option for our country.

Unlike other energy-producing countries, the United States has an oil and natural gas industry made up of thousands of individual companies that are now facing rigorous competition from other countries such as Iran, Russia and Saudi Arabia that have state-owned energy companies. Many of these nations publicly brag about trying to drive American producers out of the marketplace, even drive them out of business.

Read full editorial here.

Barry Russell is the president and CEO of the Independent Petroleum Association of America.