America is poised as the leading supplier in the new era of the global energy industry, thus we are faced with a vastly changing geopolitical landscape. The industry now more than ever will benefit from alliances of mutual cooperation with all stakeholders including government, industry, academia and society. PESA continues to support the industry by providing access to events and programs that inform, educate and support our sector as we manage through these challenging market conditions.
As part of our ongoing efforts to provide members with perspectives on the trends specifically affecting the service and supply sector of the oil and gas industry, Jim Wicklund, Managing Director of Credit Suisse, LLC, will give an economic outlook at the November 10th PESA membership luncheon.
The American energy renaissance demands a harsh look at many things, first and foremost the outdated policies established back in 2007. PESA continues to share the benefits of eliminating the outdated ban on American crude oil exports in order to expand jobs in the U.S. and incentivize higher domestic production. The recent announcement by the Department of Commerce opening crude oil trade with Mexico is a clear step in the right direction, but only a complete repeal of the ban would allow America to assume its rightful place as a world leader in energy, support hundreds of thousands of jobs and bolster our nation’s energy security. Additionally, allowing Iran to become a major oil exporter while U.S. crude remains stranded will not only negatively impact the U.S. economy, but will also enhance Iran’s geopolitical position in the world while depriving the U.S. of an important diplomatic and foreign policy tool. PESA will continue to educate and inform on this crucial issue for the industry, and we appreciate your support and efforts toward the goal.
It is an exciting time to be involved in the American energy market where we stand at the threshold of many positive changes. Together we can ensure that we pave the way for energy policy that gives expanded access to our domestic resources, ensures growth for the future energy sector and harnesses a comprehensive strategy to provide affordable energy to the world.
Gary Halverson, PESA Chairman
Sr. VP and President, Drilling and Production Systems, Cameron