The American Petroleum Institute (API) said it recently critiqued the potential effects of the proposed Bureau of Land Management's (BLM) hydraulic fracturing rule and commented on the present and future of the engineering technology.
“BLM’s proposal recognizes the strong track record of state governments in promoting safety and environmental protection while stimulating economic activity through natural gas and oil projects,” API Director of Upstream and Industry Operations Erik Milito said on organization's website. “By working with and relying upon state regulatory agencies, BLM is able to avoid a one-size-fits-all approach and duplicative regulation that could stifle, rather than spur, investment in domestic energy production.
API suggested that the BLM rule may decrease operators' and drillers' investments on BLM sites, which could endanger the availability of job opportunities, the posting said.
The organization also spoke on the continued importance of hydraulic fracturing.
“Hydraulic fracturing is an advanced engineering technology that has existed for more than 65 years, and the catalyst behind the re-emergence of the United States as a leading global producer of natural gas and oil," the API said in the posting. "Hydraulic fracturing has unleashed abundant, affordable supplies of natural gas, and this has helped the U.S. reduce carbon emissions from the power sector to near 30-year lows. Hydraulic fracturing provides significant environmental benefits because, among other things, it is protective of groundwater resources and results in a smaller surface footprint. We look forward to continuing to work with government and other stakeholders to advance the mutual goal of safety and environmental protection.”