Regulations play an important role in defining best practices and ensuring industry accountability. But overly burdensome regulations can unduly hinder the competitiveness of U.S. companies, often primarily impacting small and midsized companies. Critically examining existing regulations for redundancies and dated requirements can minimize costs and allow companies to invest in other critical areas.
ENERGY WORKFORCE’S POSITION
Energy Workforce supports a predictable, science-based regulatory framework that provides certainty for long-term investment, encourages innovation and strengthens America’s energy competitiveness. Regulations should be informed by operational expertise and developed through a transparent process that includes meaningful engagement from the energy services sector. Policymakers should prioritize timely permitting and practical implementation so American companies can continue deploying the workforce, technologies and manufacturing capacity that provide energy security for America.
Updating regulations also helps put new scientific discoveries to work. The industry invests billions in private dollars each year on research and development; the resulting discoveries are best employed in conjunction with statutes based on equally cutting-edge science.
America’s energy future depends on a regulatory framework that encourages investment, innovation and operational excellence while maintaining high standards for environmental stewardship. Yet major energy infrastructure projects can take seven years or longer to navigate the federal permitting and approval process, delaying investment, increasing costs and slowing the deployment of the infrastructure needed to deliver reliable energy. Energy Workforce supports permitting reform that provides regulatory certainty while preserving rigorous, science-based environmental review.
Overly Burdensome Regulations Can Unduly Hinder Competitiveness
Modernizing regulations helps eliminate outdated requirements, encourages innovation and supports continued investment in American energy production.
Streamlining regulations can drive economic growth for the oilfield services and equipment sector.
Regulatory certainty allows companies to invest, innovate and deploy the workforce and technologies needed to meet America’s growing energy needs.
