The Petroleum Equipment & Services Association (PESA) applauds the U.S. House of Representatives for its vote today approving H.R. 702, legislation that will modernize our nation’s crude oil export policies to reflect the new dynamic of United States energy leadership.
“PESA member companies in the service and supply sector have played key roles leading the innovation and efficiencies that shaped the U.S. position as an energy leader,” said Leslie Shockley Beyer, PESA President. “Our nation now needs a crude oil export policy that will reflect our leadership role.”
“Ending the outdated prohibition on exporting U.S. crude will ensure that the oilfield services industry continues to be a leader in technology and innovation,” said Beyer. “A modern policy will continue the U.S. energy industry’s role as a key catalyst for economic and job growth, both nationally and in individual communities around the country. Providing U.S. crude oil access to global markets will go a long way towards ensuring that our energy security is maintained and strengthened.”
From hydraulic fracturing and horizontal drilling to wellpad efficiencies and enhanced BOP technologies, PESA members and their employees have been at the forefront of the U.S. energy revolution that has boosted our nation to the world’s leading producer of oil and natural gas in just a few short years. As the voice of oilfield services sector, PESA supports policies that drive innovation, create and maintain jobs, and ensure U.S. energy security today and in the years to come.
PESA looks forward to hopeful action in the coming weeks on similar legislation by the U. S. Senate.