Arrington Leads Letter Urging Support for Oil and Gas Industry
Washington, DC,
April 2, 2020
Today, Rep Arrington led 41 of his Republican Colleagues, including Whip Steve Scalise, in a letter to the Administration asking them to continue prioritizing America’s oil and natural gas producers and workforce throughout this national health emergency:
"Thank you for your leadership during this time of great uncertainty. As this national health emergency unfolds, we ask that you continue to prioritize America’s oil and natural gas producers and workforce. As you know, oil prices plunged to an 18-year low last week and have dropped by more than half this year alone. With oil trading well below $50 per barrel, many producers are operating at a loss," the Members of Congress wrote.
"Oil and gas producers, and the jobs they support, face unique threats that extend beyond the global pandemic. Prior to the decline in demand due to the spread of the virus, Russia and Saudi Arabia began simultaneously flooding the market with cheap oil, forcing American oil and gas companies to shrink production and slash spending just to stay afloat."
"If this market does not stabilize soon, we risk rolling back the success of the U.S. energy industry over the past decade, which will have a disastrous effect on America’s economy and jeopardize our energy security. With that in mind, please consider the following policy strategies that would provide America’s energy producers and workers with much-needed relief."
To read the full letter and see the 41 members who signed on, please click here.
|