This opinion piece was written and submitted by Petroleum Association of Wyoming President Pete Obermueller
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During the final Presidential Debate last night, former Vice President Joe Biden called for a ban on fracking on federal lands and an end to the oil industry.
A recent study released by the Petroleum Association of Wyoming (PAW) and the American Petroleum Institute (API) shows that a ban on fracking and leasing on federal lands would decimate the Wyoming economy with 33,000 jobs lost and more than $641 million in revenues at risk.
We have to take Vice President Biden at his word that he is willing to sacrifice public lands states like Wyoming for the sake of political expediency. Banning fracking and leasing in Wyoming does nothing to reduce U.S. emissions as production will simply shift to private lands states like North Dakota and Texas.
According to the former Vice President, fracking is fine in Pennsylvania and Ohio because he needs their votes, but it’s not okay in Wyoming. To send a message that his plan is reckless and irresponsible, PAW calls on all Wyoming candidates from any political party to denounce the Vice President’s statements on behalf of the thousands of hard-working Wyomingites that rely on the safe production of natural gas and oil for their livelihood.
What a federal leasing ban would mean in Wyoming:
- A 31 percent decrease in oil production
- A 36 percent decrease in natural gas production
- A 5.5 percent increase in CO2 emissions nationally by 2030
- According to the WSJ Editorial Board: “The Bureau of Labor Statistics says the oil and gas industry provides an average annual salary of $108,000, nearly twice the private economy average… North America’s Building Trades Unions president Sean McGarvey estimates that many union members would ‘take a 50 percent or 75 percent pay cut.”
Representing Wyoming’s primary economic engine, the Petroleum Association of Wyoming, is the voice of the oil and gas industry. Our members produce 90 percent of Wyoming’s oil and gas, generating over $5 billion in economic activity and employing more than 19,000 of Wyoming’s hard-working men and women. PAW strives to foster mutually beneficial relationships with Wyoming’s landowners, businesses, and communities while promoting the sustainable production of Wyoming’s abundant resources.
The Petroleum Association of Wyoming provides a forum for education, interaction, and unified action for members, policymakers, and the public.