How Federal Energy Policies Can Support U.S Economic Recovery

As the Senate Energy and Natural Resources Committee, chaired by Senator Ron Wyden (D-Oregon), holds yet another hearing to investigate the pricing of oil and gas in the U.S. and restructuring in the refining industry and distribution system, it is important to focus on the very positive impact the U.S. oil and gas industry has had on the U.S. economic recovery over the past several years and on strengthening energy security stemming due to increased production of both oil and gas. In addition, policymakers need to realize that the industry could contribute even more to job and GDP growth and to federal and state tax receipts if it has access to more onshore and offshore reserves. Speeding up the permitting process for LNG exports from the U.S. will also help reinvigorate our economy. Avoiding changes in federal tax policy toward the oil and gas industry that slow capital cost recovery and recovery of other costs is also important to keep investment in the industry growing.

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