|New EPA methane rules combined with low oil prices signal disaster for stripper well producers|
FOR IMMEDIATE RELEASE
May 12, 2016
National Stripper Well Association Chairwoman Darlene Wallace said the new rules, on top of historically low oil prices will cripple stripper and marginal well owners and operators.
OKLAHOMA CITY – Today the Obama Administration’s Environmental Protection Agency (EPA) released the first Clean Air Act regulations that directly limit methane emissions from domestic oil and gas operations. The National Stripper Well Association (NSWA) fought for an exemption of small producers from the effects of these rules, but today the exemption for low-producing wells was eliminated.
“These new rules will cripple stripper and marginal well owners and operators, and on top of historically low oil prices, we are looking at total disaster,” said NSWA Chairwoman Darlene Wallace. “By requiring the addition of new costly equipment requirements and expensive leak detection the economics within the oil and gas industry as a whole will be fundamentally changed, severely and forever.”
Wallace said, the President has already committed the United States to be “fossil fuel-free” by 2100 and the overwhelming goal is to drive the nation in that direction. However, during this time of record low prices, the President's focus on pushing more expensive and costly regulation will continue to harm jobs and our economy.
The methane rules imposed on the oil and gas sector are designed to provide the President support and backing for a significant U.S. commitment to fighting world climate change, Wallace said.
|NSWA submits Statement for the Record in support of Jenkins bill|
May 12, 2016
Today, the U.S. House of Representatives Committee on Ways and Means Tax Policy Subcommittee heard testimony from members of Congress regarding their bills and proposals for tax reform.
One bill discussed was House Resolution (H.R.) 4672, authored by Representative Lynn Jenkins (R-KS), to eliminate the net income limitation on percentage depletion, which has been strongly supported by NSWA.
Rep. Jenkins testified on this bill, along with two others which she has introduced, during her short testimony before the Committee. In support of her testimony, NSWA Chairwoman Darlene Wallace submitted a Statement for the Record in support of the bill.
The testimony appears here. The NSWA support letter is viewable here.
|NSWA Annual Meeting & Energy Gala|
We had a great event in Norman, Oklahoma the week of April 20th!
In case you missed it, our vendor presentations can be found online here.
Thanks to all who came and supported our first-ever Annual Meeting and 10th Annual Energy Gala!
We will see you next year!