WASHINGTON, August 26, 2010 — Erik Milito, head of the American Petroleum Institute’s upstream group, wholeheartedly agrees with the Bipartisan Policy Center’s conclusion that new rules issued in June by the Interior Department provide an “adequate margin of safety to allow the resumption of deep-water drilling.”
"The Bipartisan Policy Center report is another indication of what we've been saying for some time: We need to lift this deepwater moratorium, which is having the effect of further harming an already-struggling Gulf community. The oil and natural gas industry quickly went into action and developed enhanced safety, equipment and operational procedures to elevate safety and environmental performance. These measures have been adopted by the government and are now requirements for offshore drillers. The industry has lead the way to get back to work and it is now up to the government to do the same. We hope the Interior Department will move forward with lifting the moratorium because thousands upon thousands of jobs, billions of dollars in revenues and our energy security are at risk if the moratorium continues."
Updated: August 26, 2010
See full BPC report below: