News

WASHINGTON, October 15, 2012 – Overall well completions—including oil and gas wells—maintained high levels from a year ago with 12,291 wells completed in the third quarter, according to API's 2012 Quarterly Well Completion Report: Third Quarter. Oil well completions increased by 18 percent with 8,580 total wells being completed in the third quarter of 2012.

WASHINGTON, October 10, 2012 – The American Petroleum Institute (API), along with a coalition of concerned business groups, sued the U.S. Securities and Exchange Commission (SEC) in federal court to challenge the SEC’s implementation of Section 1504 of the Dodd-Frank Act because the SEC disregarded its clear legal obligations to limit the costs and anti-competitive harm of the rule.

WASHINGTON, October 4, 2012 – Development of America’s shale industry in recent years is one reason the U.S. oil and natural gas industry has been able to create 100,000 jobs since the recession began, API Chief Economist John Felmy said today.

WASHINGTON, October 3, 2012 – API President and CEO Jack Gerard said he was pleased that both President Obama and Governor Romney recognized the need for a national energy policy that expands domestic oil and natural gas in the first presidential debate, but he cautioned that the words must be backed up by actions.

WASHINGTON, September 27, 2012 – API Downstream Group Director Bob Greco told reporters this afternoon that the administration had not done enough addressing problems related to the Renewable Fuels Standard law, in particular the fraudulent RINs (Renewable Identification Number) issue.

WASHINGTON, September 25, 2012 – API Director of Upstream Erik Milito and API Director of Regulatory and Scientific Affairs Howard Feldman told reporters this morning that the administration’s policies on improving regulations and encouraging domestic oil and natural gas development continue to hamper energy production and job creation and threaten to leave the nation with a less secure energy future.

WASHINGTON, September 21, 2012 – Total U.S. petroleum deliveries (a measure of demand) fell 4.3 percent in August against a year ago to 18.6 million barrels per day. While this was up 2.8 percent from the month before, it was the lowest August level in 15 years and contributed to 2.6 percent lower petroleum demand for the year to date compared with the same period in 2011. Monthly Statistical Report, Petroleum Facts at a Glance, Monthly Import Statistics for June 2012 (latest available).

WASHINGTON, September 20, 2012 – The American Petroleum Institute (API) welcomed bipartisan legislation introduced by Representatives Pete Olson (R-Tex.) and Gene Green (D-Tex.) that would fix major flaws in the Environmental Protection Agency’s (EPA’s) renewable fuel credit program.

WASHINGTON, September 19, 2012 – API President and CEO Jack Gerard said that the “Empower States Act” introduced in the Senate would benefit jobs and energy production by strongly encouraging continued responsible state regulation of hydraulic fracturing.

WASHINGTON, September 13, 2012 ─ The American Energy Initiative hearing in the House Energy and Commerce Committee reinforces a central message of our year long Vote 4 Energy campaign ─ that North American energy self sufficiency is achievable.