Cathy Landry | 202.682.8122 | landryc@api.org
WASHINGTON, July 15, 2010 — The House Resources Clear Act, which was marked up today and which seeks to penalize the entire oil industry for the Deepwater Horizon spill, if passed, would threaten American jobs, the nation’s economy and its energy security, according to a statement by American Petroleum Institute President and CEO Jack Gerard:
“The bill passed by the House Natural Resources Committee today moves well beyond a response to the tragic accident in the Gulf of Mexico, to the point where – if adopted by the Congress – provisions of the legislation will kill jobs, stifle economic recovery and punish an already-reeling Gulf Coast community.
“The numerous provisions that discourage U.S. oil and natural gas development have the potential to drive investment out of the United States, killing U.S. jobs and harming our economy.
“We support efforts to ensure safe and environmentally responsible operations, and we are committed to being part of the solution. But we cannot forget that oil and natural gas demand is growing and that it is critical to every sector of our economy. Any policy changes must bear that in mind. We can protect the environment without jeopardizing our economic security.
Updated: July 15, 2010