WASHINGTON, April 12, 2024 – The American Petroleum Institute (API) today released the following statement from Vice President of Upstream Policy Holly Hopkins on the Department of the Interior Bureau of Land Management’s (BLM) final rule revising oil and gas leasing regulations.
“As energy demand continues to grow, oil and natural gas development on federal lands will be foundational for maintaining energy security, powering our economy and supporting state and local conservation efforts. Overly burdensome land management regulations will put this critical energy supply at risk. We are reviewing the rule to ensure the Biden administration is upholding its responsibilities to the American taxpayers and promoting fair and consistent access to federal resources.”
API joined with 13 energy trade associations in submitting comments to the Bureau of Land Management expressing concerns about BLM’s proposed rule. In addition to the comments, API also submitted an economic analysis of the federal leasing program’s returns to the American public. Highlights from the analysis include:
API represents all segments of America’s natural gas and oil industry, which supports nearly 11 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. Our approximately 600 members produce, process and distribute the majority of the nation’s energy, and participate in API Energy Excellence®, which is accelerating environmental and safety progress by fostering new technologies and transparent reporting. API was formed in 1919 as a standards-setting organization and has developed more than 800 standards to enhance operational and environmental safety, efficiency and sustainability.
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