News

WASHINGTON, June 29, 2011 – API’s President and CEO Jack Gerard called for a course correction by the president to focus on jobs and increasing revenue to the government by developing American’s vast energy resources:

WASHINGTON, June 27, 2011—State pension fund investments in oil and natural gas companies are providing strong returns for teachers, firefighters, police officers, and other public pension retirees, according to a Sonecon study released today by API. Returns on oil and natural gas assets in the top two state funds averaged 42 cents for each dollar invested compared to just 6 cents for other assets in these funds from 2005 to 2009.

WASHINGTON, June 24, 2011 ─ Jack Gerard, API President & CEO, today calls for the White House to commit to a long term energy policy that will put thousands of Americans to work.

WASHINGTON, June 22, 2011—Today API welcomed passage of bipartisan legislation introduced by Representatives Cory Gardner (R-Colo.) and Gene Green (D-Tex.) that would reduce uncertainty in the Environmental Protection Agency’s air permitting process for exploration drilling in all regions of the Outer Continental Shelf except for the western and central Gulf of Mexico, which are permitted through the Department of the Interior:

WASHINGTON, June 17, 2011 – Gasoline deliveries (a measure of demand) were down from May a year ago and down year-to-date from 2010, while still higher than this past April. At 9.2 million barrels per day, they slipped to an eight-year low for May, not including May 2009. Total petroleum deliveries, at 19.5 million barrels per day, were up by 3.7 percent from last year, continuing to gain as they did in April. Distillate deliveries rose 7.0 percent from May 2010 and were at a three-year high, yet remained significantly lower than 2005-2008 levels. Ultra-low sulfur distillate deliveries were lower in May than in March and April.

WASHINGTON JUNE 16, 2011 ─ Today API strongly backed the bipartisan North American-Made Energy Act that requires the Administration to make a decision on the Keystone XL Pipeline by November 1. The vote by the Energy and Commerce Committee to move the legislation forward is a sign that lawmakers understand the enormous job creating benefits of this shovel-ready project.

WASHINGTON, June 8, 2011 – Jack Gerard, President and CEO of the American Petroleum Institute, presented remarks to reporters this afternoon outlining a new API campaign aimed at educating policymakers and the public about the role the U.S. oil and natural gas industry could play in strengthening the nation’s economy and energy security. He presented a blueprint that shows the United States could meet 92 percent of its liquid fuel demand from secure sources by 2030, assuming appropriate policy changes:

WASHINGTON, June 7, 2011 – The American Petroleum Institute yesterday urged BOEMRE to adopt an alternative for future leasing in the western Gulf of Mexico that will lead to more oil and natural gas, more jobs and more government revenue.

WASHINGTON, June 6, 2011 – API urged approval of the Keystone XL pipeline in its comments on the State Department’s Supplemental Draft Environmental Impact Statement. API emphasized the proposed pipeline, which would operate using state-of-the-art technology, would have little impact on the environment and would deliver substantial employment and energy security benefits.

WASHINGTON, June 2, 2011 –The American Petroleum Institute today welcomed action by the House Energy and Commerce Committee to approve The Jobs and Energy Permitting Act with bipartisan support which would provide an orderly and consistent permitting process for oil and gas exploration in the nation’s Outer Continental Shelf (OCS).