WASHINGTON – In a letter to senators on August 13, API President and CEO Red Cavaney expressed opposition to an energy proposal set out by the “Group of 10” senators earlier in August, saying the approach “falls far short” of what is needed to address the nation’s energy challenges. Cavaney noted that the proposal’s approach to access to federal oil and natural gas resources was “far too limited in its scope” and said the imposition of at least $30 billion in new taxes on the oil and natural gas industry would have the effect of limiting needed oil and gas investment. “These measures create an environment that will virtually assure a future with less, not more, domestic production,” Cavaney said.