Take Actions to Increase Oil and Gas Supplies
Posted October 30, 2009
Today, AAA reported that yesterday's nationwide retail gasoline prices climbed to a nationwide $2.695 per gallon average, the highest average price this year. Despite this sharp gasoline price increase, which has been driven by strong crude oil prices, the federal government has done little to help increase the supply of domestic crude oil, the basic feedstock of gasoline.
It's been more than a year since Congress and former President Bush lifted the moratoria on leasing new parcels in federal waters off the coasts of the Atlantic and Pacific, yet this administration has slow pedaled efforts to set up a framework to allow leasing on this acreage, even though the majority of Americans support greater development of our domestic resources. Instead, a troubling pattern of delay has emerged when it comes to developing the nation's federal resources--whether they are offshore in federal waters or onshore.
Americans are already suffering because of the prolonged economic recession, and the recent gasoline price rise--which is being compounded by short-sighted government policies--is only furthering their difficulties.
We urge the administration and Congress to take actions to increase domestic oil and natural gas supplies, which would add new U.S. jobs, provide much-needed revenues to federal, state and local governments and help ensure that adequate supplies are available to generate the gasoline and diesel our nation needs.
About The Author
Jack N. Gerard is president and CEO of the American Petroleum Institute (API), the national trade association that represents all aspects of America’s oil and natural gas industry. He also has served as the president and CEO of trade associations representing the chemical and mining industries. Jack understands how Washington works. He spent several years working in the U.S. Senate and House, and co-founded a Washington-based government relations consulting firm. A native of Idaho, Jack also is very active in the Boy Scouts of America, a university graduate program on politics, and his church’s leadership. He and his wife are the proud parents of eight children, including twin boys adopted from Guatemala.
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