TALLAHASSEE, Fla., Jan. 24, 2017 /PRNewswire-USNewswire/ -- Florida Petroleum Council (FPC) Executive Director David Mica said today that state Senator Dana Young's proposed legislation to ban oil and natural gas production is out-of-step with Florida consumers and families who are seeing the economic benefits of domestic energy development.
"Our industry has a long history of providing environmental and economic benefits," said Mica. "The United States is the leading producer of oil, natural gas and refined product in the world, and the decades-old technique of hydraulic fracturing has led to lower energy costs for consumers and improvements in the environment. Senator Dana Young's proposed ban could undermine the benefits that Florida families and consumers are seeing today."
Clean-burning natural gas has driven emissions in the U.S. power sector to 25-year lows and, according to IHS, American households have an extra $1,337 per year in the bank due to abundant and affordable natural gas. In addition, AAA reports that American drivers saved as much as $550 in transportation fuel costs. Domestic energy development is also paying off for American manufacturers, whose electricity costs are 30-50 percent lower than those of foreign competitors.
In December 2016, the Environmental Protection Agency finalized its six-year, multi-million dollar, national study of hydraulic fracturing and did not find evidence that the process leads to widespread, systemic impacts on drinking water resources in the United States. Adding to the extensive research, the Florida Department of Environmental Protection contracted its own independent study to evaluate the impacts to the aquifer in Collier County following a hydraulic fracturing operation. After extensive water testing, the December 2014 report concluded there were no indications of fluids injected at the well in the aquifer.
"The technology has been proven safe, and Florida is realizing the economic and environmental benefits of its use," said Mica. "Thanks in part to the increased use of domestic natural gas, ozone concentrations in the air have dropped by 17 percent since 2000, all of which makes the United States not just an energy superpower, but also a leader in reducing global emissions. Let's not move backwards when the gains of energy security are important for Florida families."
FPC is a division of API, which represents all segments of America's oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation's energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.
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SOURCE American Petroleum Institute