ATR Urges Passage of Pro-Growth Energy Legislation
ATR President Grover Norquist sent the following letter to all members of the United States House of Representatives, urging them to pass several pieces of legislation relating to hydraulic fracturing and energy secruity. The text of the letter is as follows:
On behalf of Americans for Tax Reform (ATR) and millions of taxpayers nationwide I urge you to pass H.R. 2728, the Protecting States Rights to Promote American Energy Security Act and HR 2850, the EPA Hydraulic Fracturing Improvement Act. The development of shale resources through the combination of hydraulic fracturing and horizontal drilling has buoyed the American economy and increased America’s energy security.
Specifically, a recent IHS study estimates that development of unconventional oil and natural gas resources will:
- Require $5.1 trillion in capital expenditures between 2012 and 2035
- Create and support nearly 2.5 million jobs by 2015 and 3.5 million in 2035
- Annually contribute $475 billion to GDP by 2035
But you don’t have to work in the energy field or a supportive industry to have reaped the benefits of the shale boom:
- Shale oil and natural gas activities saved families $100 per month in 2012 in the form of lower energy bills and lower costs for other goods and services
For the past half century, states have overseen the growth of hydraulic fracturing with enormous success. Tailoring specific regulations to suit their geological needs, state regulators have an intimate knowledge of the land and communities they are charged with protecting.
H.R. 2728 ensures that the federal government does not impose duplicative federal regulations on states that are managing the development of their natural resources. Unnecessary federal red tape has consequences – the Bureau of Land Management’s proposed hydraulic fracturing regulation is estimated to cost $345 million annually. These federal regulations threaten to hamstring America’s energy producers and undermine thousands of potential jobs.
Also an important piece of legislation, H.R. 2850 would ensure that the forthcoming EPA study on hydraulic fracturing and its impact on drinking water follows basic scientific principles, like engaging in a thorough peer review process.
If Congress wants to perpetuate America’s energy revolution, it is essential that federal regulators are prevented from interjecting themselves into parochial issues best managed by states.
It is for these reasons that I urge you to pass H.R. 2728 and H.R. 2850.
To view a PDF copy of the letter, click here.