The better the question. The better the answer. The better the world works. У вас есть вопрос? У нас есть ответ. Решая сложные задачи бизнеса, мы улучшаем мир. У вас є запитання? У нас є відповідь. Вирішуючи складні завдання бізнесу, ми змінюємо світ на краще. Meilleure la question, meilleure la réponse. Pour un monde meilleur. 問題越好。答案越好。商業世界越美好。 问题越好。答案越好。商业世界越美好。

How do we create a more refined view of oil and gas?

Oil and gas companies have an opportunity to engage consumers and find common ground on an unlikely topic: regulation

Perceptions on energy regulations

While the recent EY Oil and Gas US Perceptions survey highlighted a very real disconnect between American consumers and the oil and gas industry, it also identified areas of overlapping interests that might provide an opportunity for greater understanding. One of these areas is regulation.

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While 41% of consumers believe the industry is underregulated, 53% of oil and gas executives believe the industry is overregulated.

Regulatory priorities for the oil and gas industry

American consumers see significant benefits to oil and gas regulation, and they are skeptical that reducing regulation will benefit the public. When asked to select the top three regulatory priorities for the oil and gas industry, survey respondents – on average – were more likely to emphasize avoiding spills and accidents, protecting water quality, and encouraging clean energy development. Meanwhile, being energy independent and creating jobs ranked in the bottom three.

Q: Please select what you think should be the top three regulatory priorities for the oil and gas industry.

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85% of consumers and 84% of executives agree regulations are necessary to ensure environmentally safe drilling practices.

A majority of Americans are willing to pay to achieve regulatory objectives.

A large majority of consumers also say they are willing to pay more for a gallon of gasoline to ensure regulatory priorities are met — undermining the conventional cost-to-consumers argument against more regulation. In fact, more than three-quarters of respondents say they are willing to pay more for gasoline if air and water quality regulations increase prices.

Q: Please indicate how much more you are willing to pay at the gas pump for regulations that accomplish each of the following outcomes.

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Contacts

EY - Deborah Byers

Deborah Byers

US Energy Leader
EY - Greg Matlock

Greg Matlock

Americas Energy Tax Leader

Tim Urban

Washington Council EY

Jeff Petrich

Washington Council