Carlton Carroll | 202.682.8114 | carrollc@api.org
WASHINGTON, May 26, 2011 – API Executive Vice President Marty Durbin today welcomed the President’s actions to curb unnecessary regulations on American businesses but called EPA’s response plan "inadequate." He cited EPA’s greenhouse gas and ozone regulations as two of the biggest threats to the U.S. economy:
"If President Obama’s regulatory review is truly going to be effective, it needs to address the biggest threats to the U.S. economy. EPA is in the process of implementing unnecessary and enormously costly regulations on the very businesses that can and will create American jobs while continuing to improve environmental performance.
"Greenhouse gas regulations, which were never intended under the Clean Air Act, will harm American investment and job creation. Furthermore, studies show that EPA’s proposed ozone regulations are so restrictive that nearly the entire country would be non-compliant, which can make it even harder for local businesses to grow, create jobs and invest in their communities.
"The burden of these regulations is enough to cripple the nation’s economic recovery. As the job losses continue to mount, the president’s program ignores these major threats."
API represents more than 470 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 $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.