Following is a comment by America’s Natural Gas Alliance’s President and Chief Executive Officer Marty Durbin on President Obama’s climate change plan.
“While many details are yet to come, it’s worth noting that President Obama again recognized the benefits of natural gas as an American source of energy that is clean, reliable and affordable. Thanks in large part to natural gas, our nation’s carbon emissions are at 20-year lows, a milestone accomplished principally though market forces that can be traced directly to the shale gas revolution in states and communities across the country.”
“Natural gas is a foundation fuel that will continue to play a substantial role in reducing emissions while keeping our economy strong and enhancing our energy security. We’re concerned, therefore, that the President continues to single out the oil and natural gas industry for punitive tax treatment. Like all other capital-intensive industries, cost recovery is critical to the success of the natural gas industry. So, for example, eliminating the Intangible Drilling Cost deduction would lower investment and production, not only increasing natural gas costs, but diminishing our ability to deliver the jobs, environmental benefits and energy security that come with domestic natural gas production.
“We stand ready to work with the Administration, and with Congress and the states, to build on the economic and environmental progress provided by natural gas."