Announcements from the API: 28 July 2014

Bakken crude characteristics

The API has rebutted speculation by the US Department of Transportation (DOT) about the characteristics of crude oil from the Bakken.

API President and CEO, Jack Gerard said, ‘the best science and data do not support recent speculation that crude oil from the Bakken presents greater than normal transportation risks. Multiple studies have shown that Bakken crude is similar to other crudes. DOT needs to get this right and make sure that its regulations are grounded in facts and sound science, not speculation.’

Oil and gas development

According to results of a poll released by the API, large majorities of registered voters, both Republican and Democrat, support producing more oil and natural gas in the US and say they would be more likely to vote for candidates who support development.

Erik Milito, API Upstream Group Director said, ‘American voters want more oil and natural gas produced here at home but do not see the federal government stepping up. The US today prohibits oil and natural gas development in 87% of its offshore territory. Policymakers can show real leadership by opening more offshore areas to exploration and drilling. Expanding oil and natural gas development into the Atlantic, Pacific and eastern Gulf of Mexico would create good jobs, generate revenue for the government and strengthen our national security at the same time.’

The poll highlighted; 77% increased support for production of US oil and natural gas resources; 68% support for offshore drilling; 68% of voters would be more likely to vote for a candidate who supported increased domestic oil and gas production; 28% think the federal US government does enough to encourage development and 80% agree that producing more oil and gas domestically will help strengthen America’s national security.

Adapted by Claira Lloyd

Read the article online at: https://www.oilfieldtechnology.com/exploration/28072014/oil-gas-api-development-comments/