API says House ducked opportunity to help consumers

WASHINGTON – API issued the following statement:

“The House ducked the opportunity to craft balanced energy legislation that would ensure reliable energy supplies for American consumers. The tax provisions are counterproductive, making it more difficult to expand domestic oil and natural gas production and refining capacity while costing American jobs. By imposing an unrealistic mandate for a five-fold increase in renewable fuel use by 2022, the bill over-promises on the potential of renewables to reduce petroleum demand and is likely to significantly increase the cost to produce motor fuels. We urge the Senate to reject this unsound legislation."