The Interdependence of Energy, Economy, and Environment

• One-Size Does Not Fit All - Broad diversity in upstream operations.
• Thousands of small independents and only a handful of “majors”
• Upstream oil and gas production historically is not a major source of emissions, nor water quality contamination, nor groundwater depletion.
• Volume of activity in certain regions calls for greater regulatory scrutiny
• Utilize Performance Measures and bright lines
• Educate the public
• Use Inter-agency efforts to streamline permitting, state oversight  and  compliance
• States will provide more environmental protection than federal drivers 
• Pragmatic, creatively designed regulations are needed
• Industry and local communities must partner with the regulator

How can we turn down the game-changing energy potential of the U.S.?

• National Security- eliminate energy dependence on hostile nations.
• Renaissance of U.S. Manufacturing- Already a new steel plant in Ohio to manufacture fracking hardware

          -Philadelphia Shipyard –oil tanker construction
          -Chemical industries surging with low natural gas prices

• Job creation- potential -2-6 million nationwide
• Affordable energy- to reverse the trend of sharply rising energy costs

          -Energy poverty is here and getting worse
          -Median income families pay 21% of disposable income on energy
          -Slightly more than for food – together  <42% of income

• State and federal revenues- under existing tax rates
• Deficit reduction– a financially painless means