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API comment on energy security

Oilfield Technology,

The API challenges President Obama to back up his energy statements with policies that will enhance, not hinder an ‘all the above’ energy strategy to benefit consumers.

‘In an effort to ease the pain at the pump the president is misleading American about his energy strategy,’ said API President and CEO Jack Gerard. ‘President Obama says he’s committed to domestic oil and natural gas production, but the fact is his record shows otherwise.’

‘Since taking office he has declared 85% of our offshore areas off limits, decreased oil and gas leases in the Rockies by 70%, rejected the Keystone XL pipeline and has 10 federal agencies planning more regulation of hydraulic fracturing, which is key to oil and natural gas development,’ said Gerard.

‘The president’s Jekyll and Hyde approach to energy security is hurting consumers. We urge the president to work with our industry to generate more supply to the market and create new American jobs. If the president didn’t think supply mattered in the price equation, why did he tap into the SPR last year? Instead of raiding our emergency reserves again, we hope the president will put this industry to work so we can produce more oil and natural gas for America by Americans.’

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