IADC Comments on President Obama’s 2017 Budget, Urges Collaboration with Oil and Gas Industry to Boost American Economy

Houston, Texas (9 February 2016) -Today, the White House released President Obama’s 2017 budget proposal. In response, IADC President Jason McFarland issued the following statement:

“The U.S. oil and natural gas industry supports 9.8 million jobs and contributes billions of dollars each year to the U.S. Treasury. Despite these significant contributions, the President’s budget continues to use the oil and natural gas industry as an ATM to pay for proposals to fix traffic congestion, poor infrastructure and other items that our nation needs to address. This needs to be done without penalizing an industry that spurs our economic development and provides much needed energy for the U.S.”

“IADC members are eager to work with this Administration to reduce the overzealous regulations that impede our ability to work. We can, and do, provide good paying middle class jobs, which is an acknowledged priority for this Administration. However, we are only able to accomplish this if we are allowed to operate in an economically feasible and predictable regulatory environment.”

About IADC

Since 1940, the International Association of Drilling Contractors (IADC) has exclusively represented the worldwide oil and gas drilling industry. IADC’s mission is to catalyze improved performance for the drilling industry by enhancing operational integrity and championing better regulation to facilitate safer, cleaner and more efficient drilling operations worldwide. For more information, visit the IADC website at www.iadc.org.