DENVER – Western Energy Alliance will testify at a legislative hearing mistitled Fossil Fuel Development: Protecting Taxpayers and Eliminating Industry Giveaways before the House Natural Resources Subcommittee on the Energy and Mineral Resources. The hearing will take place Tuesday, September 24th at 10:00 a.m. ET.
A live and archived webcast of the hearing will be available on the committee’s website.
Alliance President Kathleen Sgamma, will testify, “Now Congress is considering legislation designed to decrease American production, not consumption, of oil and natural gas by adding more cost and red tape onto federal lands. Adding more cost has the same effect as taxes: if you want less of something, tax it more.
These bills collectively would add more cost directly through higher taxes, i.e., the royalty, bid and rental rates; bonding requirements; civil penalties; and duplicative regulatory red tape. The effect would be to further erode the competitiveness of federal public lands, causing production to shift to nonfederal areas where possible, and disadvantaging states like New Mexico, Wyoming and Utah, and many rural communities throughout the West. And of course the federal treasury would receive depressed revenue from industry. That doesn’t sound like protection of the taxpayer to me.”
What: Legislative Hearing on Fossil Fuel Development: Protecting Taxpayers and Eliminating Industry Giveaways before the House Natural Resources Subcommittee on the Energy and Mineral Resources
Who: Western Energy Alliance President Kathleen Sgamma
When: September 24, 2019, 10:00 a.m. ET
Where: 1324 Longworth House Office Building, Washington, DC 20515
Western Energy Alliance will be available for questions prior to and after the hearing.