IPAA President & CEO Jeff Eshelman issued a statement ahead of President Trump’s Congress address.
“President Trump’s address today comes at a historic time; last week both chambers passed the first Congressional Review Act resolution of the year which nullifies the methane tax regulations on energy producers put in place by the Biden Administration, an issue IPAA has active in since the tax’s wrongful inclusion in the Inflation Reduction Act.
Our association was the first to testify in opposition to the methane tax and supported its elimination in H.R. 1 last Congress. This Congress’ action to nullify this tax helps American consumers, and we urge President Trump to quickly sign the CRA resolution as part of his larger energy dominance agenda.
Independent oil and natural gas producers will also be listening to the address for news on tariffs. While IPAA supports the pro-domestic energy and pro-jobs agenda of the Trump Administration, steel and aluminum tariffs increase the cost of well construction for U.S. oil and natural gas producers.
Steel imports are essential to the industry and imports comprise up to half of the U.S. supply for the specific quality of steel in the line pipe and oil country tubular goods (OCTG) marketplace. The new tariffs on steel and aluminum imports could undermine the successes of the Administration’s goal of American Energy Dominance.”
The Independent Petroleum Association of America (IPAA) is a national trade group representing thousands of independent oil and gas producers and service companies across the U.S. Independent producers drill 91% of the country’s oil and gas wells, contributing 83% of U.S. oil production and 90% of natural gas and NGL output, while supporting over 4.5 million American jobs.
