API's Jack Gerard comments on Salazar Utah announcement

Cathy Landry | 202-682-8122 | landryc@api.org 

WASHINGTON, October 8, 2009 - American Petroleum Institute President Jack Gerard issued the following statement on the announcement today by Interior Secretary Ken Salazar to make permanently ineligible for lease eight of the 77 federal oil and natural gas parcels in Utah - and defer development on another 52 parcels.

“Today’s announcement that Secretary Salazar is removing 60 federal leases from development is just another in a series of actions this administration has taken to delay or thwart oil and natural gas exploration in areas where its development has been designated, and where lease sales have been carefully planned.

“This troubling trend means less revenue to federal, state and local governments at a time when our nation is running a record deficit. It also means fewer jobs at a time our nation is headed toward 10 percent unemployment and it means less domestic energy available when our economy recovers and demand rebounds.

“Development that takes place today translates to production in the years to come. The International Energy Agency has warned that the failure to develop oil and gas resources now is a recipe for a supply crisis in the future. Other nations are doing everything in their power to increase their oil and gas production, while this administration seems to be taking every step it can to reduce future U.S. oil and gas supplies.”