IPAA on State of the Union: “Time to create solutions that get the nation back on track”

WASHINGTON – Ahead of President Biden’s State of the Union address on Tuesday evening, Independent Petroleum Association of America (IPAA) President & CEO Barry Russell issued the following statement:  

 
“One of the world’s most powerful tactics against rising energy costs is secure, affordable, reliable American oil and natural gas production. The United States is a global leader in oil and natural gas production, and this should be encouraged. But, recently, federal regulations and policies seem to ignore this opportunity. Just two years ago, and throughout the pandemic, oil prices crashed, even to negative levels. Allegations about price gouging, which have been manufactured for decades, are false and unconstructive. America’s oil and natural gas companies stand ready for more responsible energy production here at home, for our nation and our worldwide allies; but those calls seem to go unanswered. And this creates much uncertainty for companies that need to plan projects that may take a year or more. It won’t be immediate, but now is the time to create solutions that get the nation back on track to energy and national security.” 

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