Published: April 13, 2012
Washington – John Engler, president of Business Roundtable (BRT), issued the following statement today in response to President Obama's executive order establishing a working group to coordinate federal oversight of hydraulic fracturing.
“Today's executive order is a solid first step toward coordinating and, we hope, improving federal oversight of hydraulic fracturing. Business Roundtable CEOs recently discussed with the President how federal handling of this technology threatened to become burdensome, with overlapping authorities and unnecessary and duplicative rules. We hope this working group can cut through these complications and ultimately encourage further investment in the energy sector."
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with over $6 trillion in annual revenues and more than 14 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay $163 billion in dividends to shareholders and generate an estimated $420 billion in sales for small and medium-sized businesses annually.
BRT companies give nearly $9 billion a year in combined charitable contributions.