API analysis finds the Bureau of Land Management’s (BLM) proposed rule on hydraulic fracturing would impose an added regulatory layer that would be costly and provide little or no environmental or safety benefit, the association said in comments filed with the agency.
“A new layer of duplicative regulations would raise costs and create needless delays for domestic energy production, threatening jobs and revenues that are driving U.S. growth,” said API Director of Upstream and Industry Operations Erik Milito. “ The BLM has taken steps to improve its proposal from last year, and it wisely follows the lead of states that have already adopted FracFocus to improve transparency, but there is still no clear benefit to imposing additional federal rules on top of state environmental stewardship.
“The BLM itself has praised the sophisticated and effective oversight of state regulators, and the safety record of oil and natural gas producing states has been exemplary. This industry is leading an economic renaissance in America and has created jobs at a rate forty times faster than the broader economy, according to federal estimates. There is no sound legal or environmental reason to jeopardize that growth with regulatory confusion and uncertainty.”
According to the organization, the proposed rule would:
[mappress] LNG World News Staff, August 26, 2013