News

WASHINGTON, December 12, 2007 – API issued the following statement:

“The tweaks the Senate has made to the counterproductive House energy bill will do nothing to produce more, much-needed oil and natural gas supplies for American consumers. The tax provisions target the oil and natural gas industry to pay for costly, and, in some cases, unrealistic alternative energy programs. This will be at the expense of consumers who will still require significant amounts of oil and natural gas for decades to come. The combined impact of the tax provisions and a complicated, unworkable renewable fuels mandate will likely result in higher costs for consumers, job losses and less, not more, energy security for our nation.”

WASHINGTON, December 6, 2007 – API issued the following statement:

“The House ducked the opportunity to craft balanced energy legislation that would ensure reliable energy supplies for American consumers. The tax provisions are counterproductive, making it more difficult to expand domestic oil and natural gas production and refining capacity while costing American jobs. By imposing an unrealistic mandate for a five-fold increase in renewable fuel use by 2022, the bill over-promises on the potential of renewables to reduce petroleum demand and is likely to significantly increase the cost to produce motor fuels. We urge the Senate to reject this unsound legislation."

WASHINGTON, June 19, 2007 – API issued the following statement following the Senate Finance Committee passage of the “Energy Advancement and Investment Act of 2007”:

WASHINGTON, January 18, 2007 - API issued the following statement today following House approval of HR 6 that would increase taxes on U.S. oil and natural gas companies: "HR 6 is a repeat of failed energy legislation and is a disappointment for all Americans who want to insure a secure energy future. Punitive taxes on the U.S. oil and natural gas industry are ultimately anti-consumer and contrary to the goal of providing stable and cost-effective supplies."