Jared Blong, CEO and President of Midland, Texas-based Octane Energy and past Chairman of the IADC Permian Basin Chapter, recently addressed the US House Committee on Small Business Subcommittee on Agriculture, Energy and Trade. IADC arranged the testimony. Witnesses at the subcommittee’s 26 June hearing, titled “The New Domestic Energy Paradigm: Downstream Challenges for Small Energy Businesses,” focused on the need to reduce impediments facing the energy sector and lifting the ban on crude oil exports as a part of a comprehensive energy policy.
The hearing examined the potential mismatch between the supplies of oil produced and the capacity of the refining sector to turn domestic crude oil into economically useful products. Committee members examined the impact this imbalance has on small businesses in the energy sector.
“I believe, as many do, that America has entered a new era of energy stewardship,” Mr Blong said. “Through technological breakthroughs in precision drilling and completion techniques, we can develop resources previously thought unreachable, unattainable and uneconomic. And we can do so while maintaining the highest degree of environmental stewardship, safety and community compassion.”
IADC encourages members to participate in Congressional hearings. For more information, contact Bill Tanner at firstname.lastname@example.org.