Cathy Landry | 202-682-8122 | landryc@api.org
WASHINGTON, January 9, 2011: American Petroleum Institute President and CEO Jack Gerard today issued the following statement on the new Interior Department five-year oil and natural gas leasing plan, which proposes lease sales in recently opened areas off the Atlantic, Pacific and Eastern Gulf of Mexico Outer Continental Shelf:
“American consumers have been demanding access to the oil and natural gas located off our coasts and the draft proposed five-year plan, with its inclusion of areas that had been off-limits for more than 20 years, is a good step in the right direction. Developing our domestic resources is crucial to getting our nation’s economy back on its feet and getting more Americans back to work in well-paying jobs. A recent study showed that developing the oil and natural gas resources that had been off-limits for decades could bring in nearly two trillion dollars in revenue to federal, state and local governments, which could be used to fund schools, hospitals and other critical services. The study also showed that 160,000 new jobs could be created by 2030 if these resources were developed.
America’s oil and natural gas companies have proven they can develop resources in an environmentally safe way. It is imperative Congress and the Obama administration allow this plan to move forward so our industry can do what it does best – supply the energy America needs.”