API Welcomes Legislation Ensuring Critical Funding for U.S. Conservation Programs and Protecting U.S. Energy Production
202.682.8114 | email@example.com
WASHINGTON, December 2, 2020 – The American Petroleum Institute today welcomed the introduction of the Conservation Funding Protection Act. The legislation, introduced by Sen. John Kennedy (R-La.), would provide regulatory certainty and protect the permitting process for leases in the Western and Central Gulf of Mexico, ensuring the continued supply of billions of dollars in offshore oil and natural gas revenues to support national conservation programs that benefit all fifty states.
“The Conservation Funding Protection Act is critical for maintaining energy development in the Gulf of Mexico, the primary revenue driver for America’s largest federal conservation program,” Vice President of Upstream Policy Lem Smith said. “Royalties from offshore oil and natural gas development fund most of the Land and Water Conservation Fund, supporting and protecting national parks and wildlife habitat. Continued support for oil and natural gas production on federal lands and waters is imperative for maintaining these vital conservation programs.”
API represents all segments of America’s oil and natural gas industry. Our more than 600 members produce, process and distribute most of the nation’s energy. The industry supports more than ten million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. API was formed in 1919 as a standards-setting organization. In our first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.