OKLAHOMA CITY — OIPA-OKOGA today released the following comments from association President Chad Warmington on President Donald Trump’s State of the Union address:
The president’s recognition of the significant advances made by the nation’s oil and natural gas industry further proves that a healthy economy, both in Oklahoma and nationally, is reliant on a healthy energy sector.
Oil production in Oklahoma has nearly tripled in the past 10 years, reversing three decades of declines in the state and reaching output levels not seen since the early 1980s. The increased activity in the oilfield has overflowed into other parts of Oklahoma’s economy, and manufacturing, service industries and retail have all seen significant boosts in recent years. Oklahoma’s unemployment rate, especially in the counties that overlie our historic oilfields, is among the lowest in the nation even after a historic downturn in commodity prices two years ago that slowed industry investment.
Oklahoma has played a key role in securing our nation’s energy future and our nation is now a net exporter of crude oil and a world leader in natural gas exports, putting an end to the country’s reliance on energy-producing countries in historically unstable parts of the world. The industry’s resurgence will only be aided by President Trump’s efforts to reduce the regulations that hampered oil and natural gas development during the previous administration, giving Oklahoma producers and those in other energy-producing states the opportunity to be a stabilizing force in world politics.
Oklahoma, and our state government, is more dependent on the success of the oil and natural gas industry than ever before. Policymakers here and in Washington, D.C., must do everything in their power to create a stable and effective business environment. Doing so means Oklahoma producers can increase their efforts to attract investment capital to our state and bring new oil and natural gas resources to market, returning more of the state’s workforce to the oilfield and giving Oklahoma consumers the advantage of an abundant and affordable energy supply.
About OIPA-OKOGA: OIPA-OKOGA, the newly formed oil and natural gas trade association created by the merger of the Oklahoma Independent Petroleum Association and the Oklahoma Oil & Gas Association, is the only trade association in Oklahoma that represents every segment of the oil and natural gas industry, allowing the industry to speak with one voice when advocating for the interests of our members, landowner partners, host communities and employees. The association’s goal is to enhance Oklahoma’s economy for future generations and be a destination for capital investment from the upstream, midstream and downstream segments of the energy industry.