API: EPA proposal not consistent with ‘all of the above’ energy strategy, harms American jobs and economy

WASHINGTON, June 2, 2014 – API President and CEO Jack Gerard raised concerns over EPA’s newly-proposed regulations on greenhouse gases from existing power plants in a statement today:

“This proposal is not consistent with the administration’s own ‘all of the above’ energy strategy. The uncertainty created will have a chilling effect on energy investment that could cost jobs, raise electricity prices and make energy less reliable. The energy sector is already one of the most heavily regulated industries in the United States. Our air is getting cleaner under existing regulations, and carbon emissions are down due to technological advancements developed by the private sector. We can continue to make environmental progress without damaging the economy.”

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 600 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 20 million Americans.