President Barack Obama on Tuesday (Dec. 20) designated the bulk of U.S.-owned waters in the Arctic Ocean and certain areas in the Atlan... Read More
April 5, 2017
WASHINGTON, April 5, 2017 - API President and CEO Jack Gerard stressed the need for forward-looking energy policies that embrace the U.S. energy renaissance as API released a new study examining the negative impacts of policies that restrict the production of fossil fuels.
"U.S. energy leadership is generating major economic benefits for American families and businesses," said API President and CEO Jack Gerard. "Increased energy production and infrastructure investment could create hundreds of thousands of additional jobs. Restrictive policies would take the United States back to an era of energy dependence - all based on the false idea that we must choose between energy self-sufficiency and environmental progress."
API's study assumes a scenario including no new private, State, or Federal oil and natural gas leases; a complete ban on hydraulic fracturing; no new coal mines or expansion of existing mines; and no new energy infrastructure including pipelines.
"Cutting U.S. oil and natural gas production wouldn't magically reduce world energy demand," said Gerard. "But it could raise costs significantly for American families and manufacturers, profoundly damage the U.S. economy, diminish our geopolitical influence, and severely weaken our energy security. With forward-thinking energy policies, we can ensure the U.S. energy renaissance continues to provide benefits for American consumers, workers and the environment."
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API's more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation's energy and are backed by a growing grassroots movement of more than 30 million Americans.<- Go Back