Top Industry Policy Issues
API supports free trade and the abolition of trade and investment restrictions on oil and natural gas goods and services and the liberalization of all trade in oil and natural gas. We support principles that achieve the objective of increasing trade in oil and natural gas, as well as principles that help to underpin investments in finding, developing, producing and transporting hydrocarbon resources.
In 2017, API commissioned a series of regional economic studies by Calash and Northern Economics to provide independent evaluations of the potential impacts of the development of America’s offshore oil and natural gas resources in the OCS, if the current restrictions were lifted.
Clean. Reliable. Affordable. These are the three big benefits of natural gas. And together they continue to change the energy landscape in this country and beyond. American natural gas is a solution that has forever altered the world's energy equation.
The oil and natural gas industry is the backbone of the American economy. What happens in the industry is felt throughout the entire economy. The oil and natural gas industry not only provides most of the energy that heats our homes, powers our factories and offices, and gets Americans to school and work, it also supports 9.2 million American jobs and supports more than $1 trillion of economic activity.
Oil and natural gas provide the majority of the energy American consumers’ need, and our nation’s energy infrastructure –including pipelines, railroads, highways, waterways and ports—make sure this energy is available when they need it.
The Energy Independence and Security Act of 2007 included an expanded Renewable Fuel Standard, which the EPA used to develop a final rule effective July 1, 2010. To comply with the Standard, biofuel producers and importers must blend increasing amounts of biofuels into gasoline and diesel.
Powering past impossible – that’s what natural gas and oil help Americans do every day. They are the leading fuels for our modern economy, and they furnish the molecular building blocks for products that Americans use throughout their day – from smartphones to fabrics to lifesaving pharmaceuticals. They’re also essential to technologies and innovations that help solve some of society’s greatest challenges. They make us safer and healthier. They provide pathways to a brighter future. Today’s natural gas and oil industry is smart, high-tech and is essential to an advancing society.