WASHINGTON, June 15, 2012 – API Director of Regulatory and Scientific Affairs Howard Feldman said that EPA’s particle standards proposal failed to include all options to improve air quality and could hamper investments in America’s energy future and the U.S. economy:
“Air quality will continue to improve dramatically under the current government standards, but EPA’s proposal could substantially increase costs to states, municipalities, businesses and ultimately consumers without justified benefits. We are concerned that it could come at a significant economic cost and lost investments and limit our ability to produce the energy our nation needs.
“EPA based its proposal on a faulty scientific analysis: important scientific data have been ignored and other purported findings have been misinterpreted. A more objective review of the science would conclude that the current standards should be considered among the regulatory options to continue improving air quality.
“A more stringent rule will discourage economic investment in counties that fail to meet new federal standards. It’s in our interest to have both clean air and a vibrant domestic economy. However, the new standards would put many regions out of attainment, and companies considering a place to build a plant or refinery could perceive non-attainment as non-investment.”
Between 2000 and 2010, concentrations of PM 2.5 fell by 27 percent, according to EPA. Three-fourths of Americans today live in areas where air quality meets today’s standards, and this trend will continue.
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 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.