WASHINGTON, December 5, 2012 – API Group Director of Upstream and Industry Operations Erik Milito welcomed the latest Department of Energy study finding that exports of liquefied natural gas (LNG) would benefit the U.S. economy:
“Today’s DOE report highlights the game changing benefits of exporting energy. This is a big opportunity for the administration to bolster job creation and economic growth and to address the backlog of LNG export applications.
“The U.S. is at a historical turning point with energy due to the nation’s abundant natural gas resources. With the right policies, exports can help grow the country’s economy, help reverse our trade deficit and help bring back millions of U.S. jobs in engineering, manufacturing, construction and facility operations.”
API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also 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 over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.