News

WASHINGTON, November 27, 2012 – API Downstream Group Director Robert Greco told reporters this morning that the federal Renewable Fuels Standard should be eliminated because it is not working well and because it will force higher concentrations of ethanol in gasoline that could harm vehicles.

WASHINGTON, November 27, 2012 – The American Petroleum Institute (API) filed a lawsuit in the U.S. Court of Appeals for the District of Columbia late Monday against the Environmental Protection Agency (EPA) for its decision to mandate the use of 1.28 billion gallons of biodiesel in 2013, a 28 percent increase from the 2012 requirement.

WASHINGTON, November 16, 2012 – Total U.S. petroleum deliveries (a measure of demand) were down 2.3 percent from October a year ago but increased 1.3 percent from this past September to 18.4 million barrels per day. Petroleum demand year to date was down 2.1 percent compared with a year ago. Demand for October 2012 was the lowest for any October since 1995. Monthly Statistical Report, Petroleum Facts at a Glance,Monthly Import Statistics for August 2012 (latest available).

WASHINGTON, November 15, 2012 – API Executive Vice President Marty Durbin told reporters this morning that American voters have shown strong support for building the Keystone XL pipeline and that the project represents an early and major opportunity for President Obama to boost job creation and spur economic growth.

WASHINGTON, November 14, 2012 – Marathon Oil Corporation Chairman, President and CEO Clarence P. Cazalot, Jr. has been elected Chairman of the American Petroleum Institute’s (API) Board of Directors effective January 1, 2013, for a one-year term. Mr. Cazalot succeeds Chevron President and CEO John S. Watson.

WASHINGTON, November 14, 2012 – API’s director of pipelines Peter Lidiak today said the U.S. pipeline industry is aggressively addressing safety issues in pursuit of continuous improvement and a zero incident safety record.

WASHINGTON, November 13, 2012 – API Senior Director of Federal Relations Khary Cauthen told reporters this morning that targeting the U.S. oil and natural gas industry for higher taxes could discourage new development, costing jobs, energy production, and eventually even revenue to the government.

WASHINGTON, November 12, 2012 – API Chief Economist John Felmy said today’s IEA report reaffirms that record U.S. domestic oil and natural gas resources are a big opportunity to create jobs and government revenue that no one predicted even ten years ago.

WASHINGTON, November 9, 2012 – The SEC has denied API’s request to stay a rule to implement Section 1504 of Dodd-Frank , which is already imposing massive compliance costs and competitive harm on U.S. oil and gas companies.

WASHINGTON, November 8, 2012 – API President and CEO Jack Gerard told reporters this morning that energy was a big winner in the election. Energy became a high-profile issue during the campaign, and President Obama declared his support for more U.S. oil and natural gas development, putting him in agreement with most voters.