Sabrina Fang| 202.682.8114 | fangs@api.org
WASHINGTON, December 6, 2011—American Petroleum Institute President and CEO Jack Gerard told the 20th World Petroleum Congress in Doha, Qatar on Tuesday that the industry needs to get back to full production in the Gulf of Mexico.
"In 2010, the Gulf accident presented our industry with one of its most daunting challenges," Gerard said. "We have come a long way in the last two years. We have taken our safety measures to new heights, and safety remains our number one priority.
"Now, we're working to get back to full production. The first offshore lease sale in more than a year scheduled for next week is a positive step. But, the pace of government permitting is creating regulatory uncertainty and delaying our ability to produce the energy America needs to fuel its economy."
Gerard noted the industry has established the Center for Offshore Safety (COS) in Houston, Texas. The Center will serve the U.S. offshore oil and gas industry with the purpose of adopting standards of excellence to ensure continuous improvement in safety and offshore operational integrity.
"America's oil and natural gas industry is proud of the progress we've made and if we're allowed to safely and responsibly develop our nation's energy resources, we have the ability to create a million new jobs in just seven years and generate billions of dollars in government revenue," said Gerard.
The full text of the speech is available
online as prepared for delivery.
API represents more than 490 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America's energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
Updated: December 6, 2011