Talk Radio News Service: News, Politics, Media

By Antonia Aguilar - University of New Mexico/Talk Radio News Service

Officials with the Independent Petroleum Association of America (IPAA) met with Members of Congress on Monday to persuade them that investing in oil and natural gas drilling could lead to economic growth.

“Our industry cannot only develop America's resources and provide a better and secure energy strategy for the country, but also can provide jobs that are high paying and help improve the current economic condition across the country,” said IPAA Chairman Bruce Vincent.

Based in Washington, D.C., the IPPA is a trade organization that represents independent oil and natural gas producers and service companies across the United States.

According to Vincent 85% of offshore reserves within the United States are restricted, yet hold enough natural gas material to power homes for decades. Proper investment would reduce our nation's dependence on foreign countries while stimulating the economy, he added.

Vincent also noted that the petroleum and natural gas industry supports 9 million jobs in the U.S., and with better access and more investment in domestic reserves, even more jobs could be created.

“We, in fact, have more natural gas in the United states then Saudi Arabia has, and we believe the industry has the ability to develop that and to power America for many years to come,” said Vincent.