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Petroleum industry

U.S. House Passes North American Energy Security and Infrastructure Act of 2015

Strategic Insights

— 1 min read

The U.S. House of Representatives voted overwhelmingly in favor of the North American Energy Security and Infrastructure Act of 2015, paving the way for increased domestic oil and gas production, job creation, and enhanced energy security. The bill, which includes amendments to lift the ban on crude oil exports and streamline the LNG permits approval process, was passed by a vote of 249 to 174. Energy industry leaders are urging both chambers to come together and pass a comprehensive energy bill that will bolster employment and provide much-needed fuel for the economy.

Key Takeaways:

  • The U.S. House of Representatives passed the North American Energy Security and Infrastructure Act of 2015, which includes amendments to lift the ban on crude oil exports and streamline the LNG permits approval process.
  • The bill was passed by a vote of 249 to 174, with bipartisan support.
  • The energy package is expected to boost growth for domestically produced oil and natural gas, leading to increased job creation.
  • The International Association of Drilling Contractors (IADC) has welcomed the bill's passage, urging both chambers to pass a comprehensive energy bill that facilitates robust energy exploration and production.
  • IADC Vice President Elizabeth Craddock emphasized the importance of energy legislation in enabling the U.S. to help its allies and ensuring energy security for the country and its allies.
  • The bill's passage is seen as a major step towards energy security, with IADC highlighting the geopolitical ramifications of the U.S. energy renaissance.

Statistics:

  • Vote in favor of the bill: 249
  • Vote against the bill: 174
  • Passing percentage: 58.5%
  • The U.S. energy renaissance is expected to have significant geopolitical ramifications, enabling the U.S. to help its allies and ensuring energy security for the country.

Sources:

  • Houston, TX (PRWEB) December 03, 2015
  • House of Representatives
  • International Association of Drilling Contractors (IADC)
  • http://www.prweb.com/releases/2015/12/prweb13114000.htm

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