In remarks to reporters on the morning of 20th March, API’s President and CEO Jack Gerard announced a new API campaign to clarify the facts about gasoline prices and help bring changes in energy policy that could create jobs and put downward pressure on prices. The campaign features a new website and includes new advertising:
"The American people see that supply matters on prices. Sending a clear message to people who but and sell crude oil that the US is committed to reasserting itself as one of the world’s major oil producers would immediately put downward pressure on gasoline and other fuel prices."
"We urge the administration to promote more domestic resources of oil and natural gas. Provide more access to ample US supplies. Approve the Keystone XL pipeline. Temper the drive for layer upon layer of new regulations. And abandon proposals to impose on the industry billions of dollars in new taxes that would harm investment in the US and the jobs that go with it."
"Most US resources have been placed off limits. The US oil and natural gas industry is currently allowed to explore, develop and produce on less than 15% of the federal offshore areas. More than 85% of those areas are off limits, denying all Americans the benefit of producing those resources…benefits like greater supplies of crude oil and natural gas, job creating and significant returns to our treasury in taxes, rents, royalties and bonus bids."
"With a strong public commitment to more development, with the right prodevelopment policies, and with more rapid approvals for new oil and gas projects already in the works, we could create 1 million additional jobs in as few as seven years and help bring prices down. We have the resources, the human capital, the technology and the willingness to invest to make this level of development happen."
Read the article online at: https://www.oilfieldtechnology.com/exploration/21032012/gasoline_price_campaign_launched_by_american_petroleum_institute/