WASHINGTON, July 26, 2012 – API President and CEO Jack Gerard said that legislation introduced in the Senate today, the Domestic Energy and Jobs Act, could help move America’s economy in the right direction and strengthen our nation’s energy security:
“Every policymaker says they want to create jobs. This legislation provides a clear opportunity to do so. It would approve the Keystone XL pipeline, putting tens of thousands of Americans to work almost immediately. It also would expand access, expedite permitting and require a cumulative analysis of certain EPA rules and regulations.
“Since the recession began, the U.S. oil and natural gas industry has created more than 86,000 new jobs while the economy as a whole has lost five million. The sponsors of this legislation know there’s vast potential for America’s oil and natural gas industry to put even more people to work, boost domestic production, and generate millions of dollars in new revenue for the government.”
API represents more than 500 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 over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.