AXPC Statement on Policies Causing Rising Energy Prices

WASHINGTON – Today, American Exploration and Production Council (AXPC) CEO Anne Bradbury released the following statement following recent news reports about increasing energy prices:

“The situation in Europe should serve as a huge warning to the Biden Administration and Members of Congress calling for punitive taxes, fees, and onerous new regulatory requirements on our industry.  By pursuing policies that restrict supply and make it harder to produce oil and natural gas here in America, Americans will have to pay more for their energy.

“To ensure we have a stable and affordable supply of energy here in the United States, the Biden Administration should support the domestic production of oil and natural gas, ensure the continued production on federal land, work with the industry on sensible and smart methane regulations, and stop calling for higher taxes on the American oil and gas industry.  Stopping pipelines, slowing permitting, raising taxes, and increasing regulatory burdens will only drive-up costs, and hurt American jobs.

“As we have seen in Europe and elsewhere, the world cannot address climate change without being realistic about growing global energy demand. American oil and natural gas producers stand ready to work with this administration to meet that dual challenge.”

BACKGROUND:

  • About 22 percent of US oil production and 12 percent of natural gas production takes place on federal land and waters.
  • Between 2008 and 2019, oil production in the United States more than doubled and natural gas production increased by more than 60 percent as a result of new drilling techniques known as hydraulic fracturing, or fracking. This has made us less reliant on foreign energy and less reliant on OPEC.
  • From 2008-2019 household costs for healthcare, food and education all rose by double-digit percentages while household energy costs declined by 14 percent over the same time period.  This is largely because of the American shale revolution.

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