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API: Federal energy forecast shows need for all-of-the-above


Zachary Cikanek | CikanekZ@api.org | 202.682.8114


WASHINGTON, April 14, 2015 ─ The latest U.S. Energy Information Administration (EIA) Annual Energy Outlook shows that America’s oil and natural gas production will continue to grow as U.S. consumers demand more energy in the decades ahead, said API.
   
“The revolution in U.S. oil and natural gas production has provided an incredible boost to workers and consumers here in America,” said API Vice President for Regulatory and Economic Policy Kyle Isakower. “The latest federal forecast shows that U.S. production can remain strong, despite the downturn in prices, but an all-of-the-above energy policy will be critical to our competitive edge in the decades to come. We need more energy -- not less – especially as natural gas plays a rapidly growing role in America’s energy mix and domestic oil production continues to replace imports. 
   
“To meet the demands of a growing economy, policymakers must steer away from duplicative regulations, encourage free trade, and keep public lands open to energy production. The EIA report shows that America is a global energy superpower, and keeping that momentum strong will drive jobs, economic growth, and energy security through 2040 and beyond.”
     
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 30 million Americans.