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Energy winner in election; API urges president to keep to commitment for more domestic oil and natural gas development

WASHINGTON, November 8, 2012 – API President and CEO Jack Gerard told reporters this morning that energy was a big winner in the election. Energy became a high-profile issue during the campaign, and President Obama declared his support for more U.S. oil and natural gas development, putting him in agreement with most voters. Gerard said the president would be tested early on his campaign commitment, starting with his decision on the Keystone XL pipeline:

“Energy was also a winner in this election. We’re very encouraged by the prominent role energy played in campaigns throughout the country … and pleased that our Vote 4 Energy initiative promoted this important issue as a critical part of the national conversation. We’re also encouraged by the president’s strong commitment to oil and natural gas development as an essential part of his all-of-the-above energy strategy that he emphasized during the campaign.

“We must take greater advantage of America’s tremendous energy resources, including our growing reserves of oil and natural gas. Developing at home more oil and natural gas can help rebuild our economy while providing affordable and reliable energy for our families and businesses. More domestic development can help put millions of Americans to work, enhance American competitiveness, deliver billions more in revenue to our government, and reduce our dependence on imported energy. It can positively impact global energy markets and strengthen our hand in international affairs.

“Americans deserve an energy policy that reflects their views and that will build a stronger, more prosperous, more secure future. Our elected leaders now have an opportunity to make that happen.”

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.
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