API applauds Upton-Inhofe proposal to block EPA from raising energy prices on American consumers

WASHINGTON, March 3, 2011 – Marty Durbin, API executive vice president, applauded the bipartisan Energy Tax Prevention Act to be introduced by House Energy and Commerce Committee Chairman Fred Upton (R-MI) and Senator James Inhofe (R-OK), which would prevent EPA actions that could raise energy prices on American consumers and stifle the fragile economic recovery:

“API welcomes the leadership of Senator Inhofe and Chairman Upton, and the growing list of bipartisan supporters in Congress, to stop unelected federal officials from regulating carbon dioxide under the Clean Air Act—a policy never intended by Congress. This legislation will prevent EPA from imposing regulations that could significantly raise energy costs and harm our fragile economic recovery.

“This bill does not affect the success of the Clean Air Act, which continues to improve air quality around the nation and protect public health.

“President Obama’s recent Executive Order called for a review of regulations that harm job creation. EPA’s regulation of greenhouse gases under the Clean Air Act is potentially one of the worst offenders and should be at the top of that list.”

API represents more than 450 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports more than 9.2 million U.S. jobs and 7.5 percent of the U.S. economy, and, since 2000, has invested nearly $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.