WASHINGTON, March 8, 2012 - API applauds bipartisan support of Amendment 1537 that would have authorized the building of the Keystone XL pipeline to bring more supply onto the market.
“With Americans paying more at the pump, Senate leaders tried to take the bold step to send a positive message to the energy markets that help is on the way,” said API President and CEO Jack Gerard. “Bringing more stable Canadian oil to the U.S. at a time of high gas prices makes sense.”
API thanked Senators Richard Lugar (R-Ind.) and John Hoeven (R-N.D.) for trying to help bring downward pressure on prices at the pump by bringing more oil to the U.S. from our number one trading partner, Canada. Their bipartisan leadership will help create 20,000 new U.S. jobs with the building of Keystone XL.
“The chorus of bipartisan support for Keystone is growing,” said Gerard. “Recently President Bill Clinton said we should ‘embrace’ this pipeline. It’s time to approve Keystone XL and immediately put the president’s ‘all the above’ strategy in place to help create downward pressure on crude prices to the benefit of consumers.”
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.