News

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 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 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, October 10, 2008 – The U.S. exploration and production industry’s drilling activity continues to outpace last year’s levels and is nearly twice the level seen in the 1990s, according to API’s third quarter 2008 drilling estimates.

WASHINGTON, September 29, 2008 – API today issued the following statement: “Lifting the decades-old ban on oil and natural gas drilling is good news for the millions of American consumers who are calling for the ban to be lifted, but it is only the first step. Congress should avoid re-imposing this ban or any other obstacles to U.S. oil and natural gas resources. The federal government should finish up the work necessary to allow the oil and natural gas industry to get production flowing because the faster we move, the faster Americans enjoy the benefits of more domestic oil and natural gas supplies, new jobs and a boost to the economy.”

WASHINGTON, July 15, 2008 – It is estimated that U.S. oil and natural gas companies completed over 50 percent more exploratory wells in the second quarter of 2008 than they did in the corresponding period a year ago, as the industry continues to boost activity in the exploration and production sector, according to API’s second-quarter drilling estimates.

WASHINGTON, July 14, 2008 – API has issued the following statement on President Bush lifting the “presidential withdrawal” prohibiting leasing off the East and West coasts and a portion of the eastern Gulf of Mexico.

WASHINGTON - June 20, 2008 -

America needs a balanced, fact-based energy policy that promotes energy efficiency and conservation and greater supplies of all forms of energy, including domestic oil and natural gas. Congress must act to expand access to the abundant supplies of domestic oil and natural gas that have been off-limits to drilling for decades

WASHINGTON, June 19, 2008 - In a letter to Congress, API President and CEO Red Cavaney said that proposed legislation that would deny new leases to oil and natural gas companies that have so-called "idle" leases would keep more of America's vast energy resources locked up underground and seriously harm the nation’s ability to produce sufficient energy to meet demand.