News

WASHINGTON, June 29, 2006 - API President Red Cavaney, in a letter to Congress dated 6/29, said that government should implement policies that allow access and encourage the application of private capital to develop existing and new sources of energy to ensure a diverse and robust supply. In a letter to lawmakers, Cavaney said that as an industry that annually reinvests more than its total net income in the search for new energy supplies for consumers, it is important that elected leaders resist the temptation to burden the industry with confiscatory and discriminatory taxation schemes that would reduce the industry’s ability to make the reinvestments necessary to deliver future energy to American consumers.

WASHINGTON, April 23, 2006 – In response to what appears to be some misunderstanding concerning the findings of a draft report issued by the Environmental Protection Agency on the impact of boutique fuels, API has issued the following statement:

WASHINGTON June 14, 2006 – U.S. motorists appear to be doing what they can to cut back on their fuel use to offset the impact of higher pump prices as May gasoline deliveries, a proxy for demand, plunged 3.3 percent from May 2005 levels amid a 35 percent rise in retail prices, data compiled by the American Petroleum Institute shows.

WASHINGTON, May 22, 2006 – The American Petroleum Institute today issued the following statement regarding a Federal Trade Commission’s report that found “no instances of illegal market manipulation” to influence gasoline prices

WASHINGTON, May 11, 2006 – The United States should avoid repeating the energy policy mistakes of the past and concentrate on a multi-pronged approach to meet the energy challenges of the future, API President and CEO Red Cavaney told a House panel on May 11.

WASHINGTON, May 3, 2006 – Alyeska Pipeline Service Company was recently presented with API’s 2005 Distinguished Award for Outstanding Safety and Environmental Performance. Alyeska, operator of the 800-mile-long Trans Alaska Pipeline System, won the award based on its release performance per mile of pipeline operated as reported to the Pipeline Performance Tracking System, its low rate of safety incidents, and its community outreach program, which was widely praised as standard-setting for the pipeline industry as a whole.

WASHINGTON May 3, 2006 - The American Petroleum Institute today issued the following statement regarding oil and natural gas company earnings:

WASHINGTON, May 3, 2006 – Nineteen pipeline companies representing 140,000 miles of the nation’s pipelines have signed up for the API/INGAA/AOPL public awareness survey program. The survey program is a response to new federal regulations that incorporate API standard RP 1162, Public Awareness Programs for Pipeline Operators. RP 1162 provides a framework for communication between pipeline companies and residents living and working along the pipeline route, emergency responders, public officials and excavators.

Washington, DC, April 26, 2006 - We understand the frustration that consumers have expressed about energy prices. We recognize that high energy prices are adversely impacting individual households and, potentially, our economy.

WASHINGTON, April 25, 2006 - America’s oil and natural gas industry welcomes the administration’s increased focus on the nation’s long-term and short-term energy issues. The industry’s one-hundred years of experience in motor fuels provides us with important insights in managing a complex fuels system in a way that insures consumers’ access to reliable and affordable energy supplies. We are working full-time to meet the energy needs of the nation’s consumers and to comply with environmental and fuel requirements in government regulations and laws.