We Must Reduce the Regulatory Burden, Empower Our Energy Industry to Compete in the Global Market
WASHINGTON – January 25, 2015 – (RealEstateRama) — During a Senate Energy Committee hearing this week, Senator John Hoeven drove home the importance of empowering America’s energy industry to compete in the global market. While speaking with witnesses from both private and federal organizations, including the U.S. Energy Information Administration, Hoeven highlighted how burdensome federal regulations impede and increase the costs of domestic energy development, which hinder the nation’s exports, reduce economic growth and undermine national security.
“Just as we worked to put North Dakota in a position to compete globally, we need to put the nation in a position to compete, particularly now because we’re engaged in a global battle to determine who will provide the energy of the future,” Hoeven said. “The Obama Administration continues to push regulations that make it more difficult and costly to produce energy here is the U.S., while at the same time making it easier for our adversaries, such as Iran, to produce and export more oil. We need to reduce the regulatory burden and empower our nation’s energy industry to compete. That will mean more economic growth, good jobs for our citizens and help make our nation energy secure.”
Hoeven said that Congress’ recent move to lift the oil export ban was an important step, but that more needs to be done to reduce onerous regulations and block the president’s proposed regulations that would increase energy producers’ operating costs. To this end, Hoeven is working through his various positions in the Senate, including on the Energy and Appropriations Committees, to advance measures that will empower greater, more cost-effective domestic energy production, while ensuring environmental stewardship through state regulation.
The senator’s efforts include legislation to repeal or defund the administration’s recently proposed regulations, including the Waters of the U.S. rule, the new rules mandating expensive modifications for new and existing coal-fired power plants and others. At the same time, he has sponsored bills that empower states to take the lead in regulating hydraulic fracturing, ensure the safe recycling and reuse of coal residuals and streamline the approval process for both cross-border energy infrastructure and permits for energy development on federal land.
