Petroleum Alliance of Oklahoma President Brook A. Simmons issued the following statement in response to President Joe Biden’s efforts to phase out the oil and natural gas industry, including canceling the Keystone XL pipeline permit and halting the sale of oil and gas leases on federal lands:
“Just as we repeatedly warned, the new Administration launched a foolish campaign to put the men and women of the oil and natural gas industry out of work on day one.
“Yesterday, the White House killed the Keystone XL pipeline and thousands of jobs, including some in Oklahoma. Today, it temporarily froze federal onshore and offshore oil and gas activity to the detriment of national security, taxpayers, schools and local communities. This is just the start. It will get worse.
“Meanwhile, the laws of physics, chemistry and supply and demand remain in effect. Oil and natural gas prices are going up, and, therefore, so will home heating bills, consumer prices and fuel costs. States that depend heavily on federal mineral revenue will bear the immediate pain.
“Oklahoma policymakers should move quickly to craft forward-thinking measures that anticipate the expensive regulatory red tape and financial burdens about to be dumped on the petroleum industry — regardless of sector or business size — so the state can compete to bring jobs and investment home.”
ABOUT THE PETROLEUM ALLIANCE – The Petroleum Alliance of Oklahoma is the only trade association in Oklahoma that represents every segment of the oil and natural gas industry, representing more than 1,300 member companies engaged in the upstream, midstream and downstream sectors of the state’s defining industry.