Karen Matusic | 202.682.8118 | matusick@api.org
WASHINGTON, December 4, 2007 – API issued the following statement:
“The House bill does nothing to improve our nation’s energy security or ensure reliable energy supplies for American consumers. The $21 billion tax provision is counterproductive in that it takes capital away from expanding domestic oil and natural gas production and refining capacity. The renewable fuel title sets up a new crazy-quilt of boutique biofuels that will strain, and could break, the nation's fuel supply system. Our nation needs a balanced energy policy that promotes improved efficiency and production of all forms of energy."