Boustany critical of BLM’s hydraulic fracturing restrictions

Rep. Charles Boustany Jr. (R-LA) recently expressed his disapproval of a final rule from the Bureau of Land Management (BLM) that will impose restrictions on hydraulic fracturing that occurs on tribal and public lands and forces new costs on companies that are drilling for natural resources.

Many see hydraulic fracturing as a benefit to the American economy. It has created more than 2 million jobs in the U.S. and is one of the forces leading the American energy renaissance on the global market.

The Independent Petroleum Association of America (IPAA) estimates that the new BLM rule may cost approximately $97,000 per well, which amounts to $345 million each year.

“The Obama Administration wants to take credit for the American oil and gas industry’s continued success, but actions speak louder than words,” Boustany said. “This BLM regulation will cost hundreds of millions of dollars to the industry, stalling new exploration and development. We should be embracing the economic and diplomatic potential of expanded domestic energy production, not running away from it. I’ll push for Congress to do everything we can to support American oil and gas development.”