News

WASHINGTON, December 17, 2008 – November oil product deliveries (a measure of demand) fell 7.4 percent from a year ago to the lowest November level since 1998, according to API’s Monthly Statistical Report.  Compared with November 2007, gasoline deliveries fell 3.5 percent, while distillate deliveries declined 4.9 percent and jet fuel deliveries dropped a full 9 percent.  Residual fuel oil deliveries slid nearly 17 percent.

WASHINGTON, December 8, 2008 – The development of America’s vast domestic oil and natural gas resources that had been kept off-limits by Congress for decades could generate more than $1.7 trillion in government revenue, create thousands of new jobs and enhance the nation’s energy security by significantly boosting domestic production, a study released Monday shows.

WASHINGTON, November 26, 2008 – The American Petroleum Institute today issued the following statement from API President and CEO Jack Gerard regarding the “Transition to Green” report issued by 29 environmental groups calling for the reinstatement of the offshore drilling moratoria:

WASHINGTON, November 20, 2008 – The American Petroleum Institute today issued the following statement from API President and CEO Jack Gerard following the announcement by Interior Secretary Dirk Kempthorne that the nation received record payments of $23.4 billion in fiscal year 2008 from royalties, rents and bonuses from onshore and offshore energy production and states received a record $2.59 billion from production on federal lands within their borders and federal offshore areas adjacent to their shores

WASHINGTON, November 19, 2008 – Total U.S. petroleum deliveries, which dropped more than 4 percent in October, have fallen 5 percent from January through October, a rate not seen since the early 1980s. Total domestic deliveries, a measure of demand, averaged just 19.6 million barrels per day in the January-to-October period, the lowest since 2000.

WASHINGTON, November 18, 2008 - API President Jack Gerard's Letter to Congress on API's continued commitment to work with new administration.
As the new president and chief executive officer of the American Petroleum Institute, I want to pledge API’s continued commitment to work with the Congress to ensure future energy security and economic prosperity for the United States.

WASHINGTON, November 18, 2008 – The American Petroleum Institute today issued the following statement:

“We believe the position outlined to news reporters by House Majority Leader Steny Hoyer – that the Democratic leadership would not seek to re-impose the ban on oil and natural gas leasing in federal waters – is the right approach.

WASHINGTON, November 12, 2008 – The American Petroleum Institute today issued the following statement regarding the International Energy Agency report:

“The report issued today by the International Energy Agency (IEA) underscores the pressing need to do all we can in the United States to develop our own oil and natural gas resources.

WASHINGTON, November 12, 2008 – The American Petroleum Institute today issued the following statement from API President and CEO Jack Gerard:

“America’s oil and natural gas industry welcomes the action today by the Minerals Management Service to begin a public comment period and a thorough environmental assessment ahead of offering offshore Virginia oil and natural gas leases.

WASHINGTON, November 5, 2008 – The American Petroleum Institute today issued the following statement from API President and CEO Jack Gerard:

“America’s oil and natural gas industry looks forward to working with President-elect Barack Obama and Congress to deliver a comprehensive and realistic energy policy that encourages development of all domestic energy sources, including oil and natural gas, for the benefit of consumers.