Cathy Landry | 202-682-8122 | landryc@api.org
WASHINGTON - The American Petroleum Institute issued the following statement:
"The American Petroleum Institute is reviewing the implications of the federal appeal court’s decision vacating and remanding the 2007-2012 five-year leasing program.
It would be a disservice to all Americans - and a devastating blow to the economy - if this decision were to delay further the development of vital oil and natural gas resources.
America’s oil and natural gas industry is the backbone of the economy. Development in federal waters off the nation’s coast provides thousands of well-paying jobs, government revenues and the fuel needed to run America’s cars and factories, heat our homes and the feedstock needed to make the materials we use every day."