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DOMESTIC PETROLEUM COUNCIL ISSUES STATEMENT TO CONGRESS CONCERNING MARKEY/SCHEUER AMENDMENT TO H.R. 776

 DOMESTIC PETROLEUM COUNCIL ISSUES STATEMENT TO CONGRESS
 CONCERNING MARKEY/SCHEUER AMENDMENT TO H.R. 776
 HOUSTON, May 27 /PRNewswire/ -- The Domestic Petroleum Council (DPC), a trade association representing the nation's largest independent oil and gas companies, issued a statement to all members of Congress today expressing concern over the Markey/Scheuer Amendment to H.R. 776.
 DPC President James T. Rodgers, president of Anadarko Petroleum Corporation, on behalf of all DPC member companies, urged Congress to reconsider the amendment and vote to eliminate it from the energy policy bill.
 DPC Statement follows:
 "After years of studying energy policy issues that would benefit both consumers and energy producers, Congress finally came close. H.R. 776 was a pretty fair bill with good provisions such as reform of the Alternative Minimum Tax, reform of the Public Utility Holding Company Act, and other provisions to spur increased use of natural gas. Together, these sections make a good start toward a solid U.S. energy policy.
 "However, it is shocking that the same Congress that initiated these positive steps could also adopt legislation as poorly crafted as the Markey/Scheuer Amendment, approved last week by the full House. That amendment is unacceptable and may jeopardize our support for H.R. 776.
 "Here's why:
 -- The amendment is an attack on the sovereign authority of the states granted under the Constitution to exercise their police power to regulate gas production.
 -- The amendment makes it possible for virtually anyone to bring suit in the federal district court for the District of Columbia to cancel state conservation laws in effect in 13 states and threatens state authority in another 20 states. Many of these regulations have been in effect for more than 50 years. Though not all oil and gas producers may fully support recent actions taken by some state regulatory agencies, producers are generally opposed to this federal intrusion in an area historically regulated by the states.
 -- The amendment is anti-environment. If state conservation laws are invalidated, the producer who drills the most wells and drains his reservoir the fastest is the one who wins.
 "Quick depletion of America's large natural gas inventory is a big negative for America's energy future, because gas is our cleanest burning, domestic fossil fuel.
 -- The amendment isn't necessary. From 1982 to 1991, the average wellhead gas price in the United States fell by 40 percent -- ample proof that gas buyers and gas sellers are setting the price of gas in the market.
 -- The amendment has not been through the normal committee hearing and markup process. As a result, it offers a simplistic non-solution to an extremely complex issue.
 "For all these reasons, the member companies of the Domestic Petroleum Council urge you to support reconsideration of the Markey/Scheuer Amendment and vote to eliminate it from a good energy policy bill -- H.R. 776."
 -0- 5/27/92
 /CONTACT: A. Paul Taylor Jr. of Anadarko Petroleum, 713-875-1101/ CO: Domestic Petroleum Council ST: Texas IN: OIL SU: LEG


SM -- NY084 -- 4483 05/27/92 17:57 EDT
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Publication:PR Newswire
Date:May 27, 1992
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