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Fuel Freedom Foundation
In the wake of Hurricane Harvey, the average price of a gallon of gasoline nationwide spiked by 25 cents, with some states seeing an increase of as much as 42 cents per gallon. This is the largest increase in a single week since the 49-cent jump following Hurricane Katrina in 2005. The fact that the entire nation’s fuel infrastructure can be disrupted by a localized single event is deeply concerning. In fact, our economy is disproportionately reliant on oil —10 of the previous 11 U.S recessions were preceded by a spike in oil prices (and subsequently gasoline). Indeed, as Michael… [more]View Insight
Director of International Public Policy and Advocacy
Global Innovation Policy Center, U.S. Chamber of Commerce
In June 2016, House Republicans introduced their vision for comprehensive tax reform. Premised on a simpler, fairer code than today’s, the GOP’s plan looks to promote economic growth and create jobs. It also proposes taxing imports at 20%. As part of the plan, Republican Speaker Ryan introduced a border adjustment tax (BAT) that taxes imports but excludes exports. The Tax Foundation concluded that a BAT could generate roughly $1 trillion in revenue over the next decade. According to some oil market experts, “the bottom line with a BAT is the price of crude oil rises.” And with almost a fifth… [more]View Insight
A new report, produced by Battelle Memorial Institute and funded by the American Petroleum Institute and America’s Natural Gas Alliance, criticizes an EPA study plan that details a proposed agency investigation into the potential impacts of hydraulic fracturing on drinking water. The Batelle report calls for greater collaboration between industry and the EPA, and with the EPA’s study potentially informing federal drilling regulations, industry is keen to lend their voice. The report asserts that with the “industry’s extensive experience with production of oil and gas from unconventional reservoirs, its unique expertise in the process of hydraulic fracturing and associated technologies,… [more]View Insight
Last week President Obama signed an executive order to coordinate the Administration’s activities on natural gas development. The order will convene the Interagency Working Group to Support Safe and Responsible Development of Unconventional Domestic Natural Gas Resources, and will bring together at least 13 federal agencies. The working group will coordinate interagency policy, work to share scientific, environmental, technical and economic information, and engage in long term planning with regards to research, natural resource assessment, and the development of infrastructure. The order states that “States are the primary regulators of onshore oil and gas activities,” but that “the Federal Government… [more]View Insight