Gerard to President Obama: Market-driven energy renaissance can achieve environmental progress without overregulation that harms consumers
WASHINGTON, January 12, 2016 – API President and CEO Jack Gerard said America’s energy renaissance has been driven not by federal government programs but by state leadership, private investment and innovation. He outlined how President Obama can achieve environmental progress without an onslaught of new regulations that could raise costs on consumers.
“The majority of new oil and natural gas production that has done so much to grow our economy and save consumers money has occurred primarily on private and state lands,” Gerard said. “On federal lands controlled by the administration, crude oil production has remained flat and natural gas production has declined. Furthermore, the administration has advanced nearly 100 regulations impacting all aspects of the oil and natural gas industry over the past year, which hinders production. Instead of bombarding our economy with duplicative, job-crushing new regulations, President Obama should embrace policies that recognize America’s energy resurgence, including environmental improvements.
“The goals of environmental progress and energy production are not mutually exclusive. Industry innovation is driving technological advances and producing clean-burning natural gas that has led carbon emissions to near 20-year lows. Furthermore, our nation’s new status as the world’s leading producer of oil and natural gas is saving American families and businesses billions in energy costs.
“Our model doesn’t stifle American investment with overregulation or a one-size-fits-all approach to federal rulemaking. Instead, it allows for the free market and innovation to thrive. Let’s allow these market-driven initiatives to continue improving our environment without risking our economy and American jobs.”
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 650 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.