WASHINGTON, February 23, 2012 - The American Petroleum Institute challenges President Obama to back up his energy statements with policies that will enhance, not hinder an ‘all the above’ energy strategy to benefit consumers.
“In an effort to ease the pain at the pump the president is misleading Americans about his energy strategy,” said API President & CEO Jack Gerard. “President Obama says he’s committed to domestic oil and natural gas production, but the fact is his record shows otherwise.
“Since taking office he has declared 85 percent of our offshore areas off limits, decreased oil and gas leases in the Rockies by 70 percent, rejected the Keystone XL pipeline and has ten federal agencies planning more regulation of hydraulic fracturing, which is key to oil and natural gas development, said Gerard.
“The president’s Jekyll and Hyde approach to energy security is hurting consumers. We urge the president to work with our industry to generate more supply to the market and create new American jobs. If the president didn’t think supply mattered in the price equation, why did he tap into the SPR last year? Instead of raiding our emergency reserves again, we hope the president will put this industry to work so we can produce more oil and natural gas for American by Americans.”
See the brochure:
Energy Myths & Facts: “The President’s Backward Energy Policy Won’t Lower Gasoline Prices
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.