API raises concern about increasing regulation of oil, gas operations

02/8/2012 | Oil & Gas Journal

The increasing number of federal agencies interested in overseeing oil and natural gas operations could jeopardize the development of the country's energy resources, said John Felmy, the American Petroleum Institute's chief economist. "This is a prospective regulatory avalanche. Right now, there's no transparency or indication of prospective outcomes," said Felmy. Units of the departments of Defense, Transportation, and Health and Human Services could come up with new rules aside from those of the Interior Department, Felmy added.

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