02.09.11

HOEVEN CALLS FOR ANALYSIS OF ENERGY INDUSTRY REGULATIONS

WASHINGTON, D.C. – Sen. John Hoeven (R-N.D.) today asked Dr. Richard Newell, administrator of the Energy Information Administration (EIA), to conduct an analysis of regulations that could be impeding development and growth of the nation’s domestic energy production.

“I believe a key to maximizing the nation’s energy potential and minimizing energy costs for America’s families is reducing unnecessary federal regulations,” Hoeven said. “Accordingly, I write to request that you conduct a quantitative analysis of the impact of federal regulations on America’s domestic energy production.”

Hoeven asked the administrator to specifically study federal regulations affecting the energy sector, whether from coal and natural gas or biofuels and wind, and to identify regulations that, if eliminated, would result in an increase in domestic energy production. He also asked that the report estimate the extent of the increase in domestic energy, and its effect on America’s dependence on foreign sources of energy.

“We all want to ensure that we have clean air and water, with good environmental stewardship, but we need to look at current regulations that affect the energy industry and make sure that we have common sense rules that enable energy companies to invest in and develop our energy resources,” Hoeven said.

Today’s letter follows up on a request Hoeven made last week when Newell testified at a February 3rd hearing before the Senate Energy and Natural Resources Committee, on which Hoeven serves. During the hearing the Senator described Empower ND, the state’s comprehensive energy plan, and North Dakota’s work over the past decade to create a legal, tax and regulatory environment that encourages energy development across all energy sectors.

Hoeven stressed the importance of an inclusive national energy plan to spur economic growth and job creation, and asked Newell to identify non-revenue measures that could be implemented to stimulate energy development.

“What should this Congress do to stimulate energy development in all sectors without picking winners and losers that can be most effective to stimulate energy production in this country?” Hoeven asked.

Hoeven and the Senate Energy and Natural Resources Committee will use the findings of the study to craft national energy policy in the 112th Congress.