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On June 15 in a teleconference with journalists, API Chief Economist John Felmy and API Statistics Manager Ron Planting discussed gasoline market conditions. Felmy told journalists that gasoline prices have increased 61 cents a gallon since April 21 due to the increased cost of crude oil and the beginning of summertime gasoline requirements. Crude oil costs have increased by 64 cents over the same period due to OPEC production restraints and signs of economic improvements. Planting pointed out that U.S. refiners are producing near-record amounts of gasoline and diesel fuel.

6/15/2009
Oil and gas industry leads investments to cut greenhouse gases

6/11/2009
API Statement on Utah Leases

6/10/2009
API statement on refinery safety

6/10/2009
API President Jack Gerard's statement on the introduction of the American Energy Act in the House

6/10/2009
API statement on resolution recognizing National Pipeline Safety Day

6/10/2009
Women of oil, gas industry take their stories to Capitol Hill

6/9/2009
New study finds sharp drop in production with additional federal hydraulic fracturing regulations

6/9/2009
API President Jack Gerard statement on passage of Dorgan amendment

6/8/2009
Statement from API President Jack Gerard on CBO's Cost Estimate on the American Clean Energy and Security Act of 2009

6/8/2009
Statement by Jack Gerard on Impending Mark-up of Oil and Gas Title of Senate ENR Bill

6/8/2009
API Fact Sheet on the Benefits of Canadian Oil
WASHINGTON - Canadian oil is a reliable and plentiful strategic resource for meeting growing U.S. energy demand and making the United States more energy secure. According to the Department of Energy, Canada is our biggest supplier of imported oil and natural gas.

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6/4/2009
API President Jack Gerard Statement on Senate Energy and Natural Resources Committee Bill

6/4/2009
Media Advisory: API's New EnergyTomorrow Blog

6/4/2009
Final Joint Statement of Oil and Gas Trades to House Subcommittee on Energy and Mineral Resources
WASHINGTON - API and five other trade associations presented the views of the U.S. oil and natural gas industry on shale gas development and related issues in a joint statement submitted to the House Natural Resources Subcommittee on Energy and Natural Resources for its June 4, 2009 shale gas development hearing. The joint statement said that increased shale gas development must be a major component of a comprehensive, multi-pronged approach to meeting U.S. energy challenges.

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6/3/2009
API President Jack Gerard Comments on Monmouth University Coastal State Poll

5/29/2009
API Jack Gerard's Statement on Draft House Resources Bill

5/28/2009
API Statement on New Study by Ground Water Protection Council

5/21/2009
API Statement on House Energy and Commerce Approval of Waxman-Markey Bill

5/18/2009
API President Jack Gerard Statement on CERA Canadian Oil Sands Report

5/15/2009
API Statement on Waxman-Markey Bill

5/13/2009
Economy continues to depress deliveries, API report shows, Monthly Statistical Report, Petroleum Facts at a Glance, Monthly Import Statistics

5/12/2009
API seeks rehearing of Appeal's Court Five-Year Plan decision
WASHINGTON - American Petroleum Institute President Jack Gerard issued the following statement on API’s decision to seek rehearing of a U.S. Appellate Court panel’s decision remanding and vacating the Department of Interior’s 2007-2012 Five-Year Outer Continental Shelf leasing plan. API on May 12 asked the court to change the remedy from “vacate and remand” to “remand.” The Interior Department has sought similar relief from the court.

“The court’s decision should not stand as an impediment to continued production of oil and natural gas from leases already issued in the Outer Continental Shelf and to leasing in the future under the Five-Year Program. Offshore oil and gas leasing under the program is responsible for thousands of well-paying American jobs, over $10 billion in much-needed revenue for federal, state and local governments. The nation’s energy security depends upon these resources.”

See API Petition for Rehearing
Size: 4.5 MB| Date: May 12, 2009 | License: Free

Cathy Landry | 202-682-8122 | landryc@api.org

5/11/09
API statement on administration's proposed taxes on industry
WASHINGTON - The American Petroleum Institute issued the following statement today from President Jack Gerard regarding taxes on oil and natural gas companies in the administration’s budget proposal:

“The new taxes are anti-jobs, anti-consumer, and anti-energy. They will depress investment in new domestic oil and gas projects, weakening the nation’s energy security. Six million American workers depend on the oil and natural gas industry for their jobs. Raising taxes in a time of economic decline is a recipe for disaster. Historically, new taxes hurt businesses, threaten jobs, and lead to higher prices for consumers. Higher energy taxes that reduce production and increase costs take money from every American household. We need to get the nation on the road to economic recovery. New taxes on domestic energy production make that task substantially harder.”

Bill Bush | 202.682.8069 | bushw@api.org

5/7/2009
API President Jack Gerard comments on Interior 4(d) decision
WASHINGTON - American Petroleum Institute President Jack Gerard issued the following statement on the decision by the Obama administration to uphold the Section 4(d) rule for protecting the polar bear under the Endangered Species Act (ESA).

“We welcome the administration’s decision because we, like Secretary Ken Salazar, recognize that the Endangered Species Act is not the proper mechanism for controlling our nation’s carbon emissions. Instead, we need a comprehensive, integrated energy and climate strategy to address this complex, global challenge. This decision serves to protect the polar bear while providing greater regulatory certainty not only to the oil and natural gas industry but also to all U.S. manufacturers."

Cathy Landry | 202-682-8122 | landryc@api.org

5/5/2009
API President Jack Gerard's Statement on Murphy-Abercrombie Energy Bill
WASHINGTON - American Petroleum Institute President Jack Gerard today issued the following statement on the American Conservation and Clean Energy Independence bill, introduced today by Reps. Tim Murphy (R-Penn) and Neil Abercrombie (D-Hawaii) and others. Among other things, the bill includes provisions to expand access to previously off-limits offshore areas:

“This bipartisan bill recognizes the importance of increased access to offshore oil and natural gas resources not only to our nation’s economy - in terms of generating federal, state and local revenues and new well-paying jobs—but also to America’s energy security.

America’s oil and natural gas industry is the backbone of the economy. Development in federal waters off the nation’s coasts provides thousands of jobs, government revenues and the fuel needed to run America’s cars and factories, heat our homes and the feedstock needed to make the materials we use every day. Expanding access would mean more revenues, more jobs and greater energy security.

This legislation is a step in the right direction. We look forward to working with Congress to further refine some of the provisions and move forward with policy that will tackle our nation’s critical energy challenges.”

Cathy Landry | 202-682-8122 | landryc@api.org

4/28/2009
API President Jack Gerard comments on Florida House vote on offshore development
WASHINGTON - American Petroleum Institute President Jack Gerard today issued the following statement on the Florida House’s overwhelming passage of a bill to authorize oil and natural gas development in Florida state waters:

“Florida’s House of Representatives - like the majority of Americans - recognizes that domestic oil and natural gas development is necessary to preserve and create jobs, generate revenues for cash-strapped state and local governments and bolster America’s energy security. It also recognizes the nation’s oil and gas industry uses state-of-the art technology and strict operating practices to ensure that any development would be done in a way that protects both the environment and state’s vital tourism industry. We hope that the state’s Governor and its Senate can see the wisdom in the House proposal, and re-open the door to offshore oil and gas development that would benefit not only Florida but the entire nation.”

Cathy Landry | 202-682-8122 | landryc@api.org

4/22/2009
Portland Pipe Line and Alyeska Win API Safety and Environmental Performance Distinguished Awards

4/17/2009
API statement on federal appeals’ court decision on five-year lease plan
WASHINGTON - The American Petroleum Institute issued the following statement:

"The American Petroleum Institute is reviewing the implications of the federal appeal court’s decision vacating and remanding the 2007-2012 five-year leasing program.

It would be a disservice to all Americans - and a devastating blow to the economy - if this decision were to delay further the development of vital oil and natural gas resources.

America’s oil and natural gas industry is the backbone of the economy. Development in federal waters off the nation’s coast provides thousands of well-paying jobs, government revenues and the fuel needed to run America’s cars and factories, heat our homes and the feedstock needed to make the materials we use every day."

Cathy Landry | 202-682-8122 | landryc@api.org

4/17/2009
Proposed endangerment finding troubling - API
WASHINGTON - The American Petroleum Institute issued the following statement today from President Jack Gerard regarding the U.S. Environmental Protection Agency’s proposed endangerment finding for greenhouse gases:

“The proposed endangerment finding poses an endangerment to the American economy and to every American family. It could lead to greenhouse gas regulations under a law fundamentally ill-suited to addressing the challenge of global climate change. The regulations could impose complex, costly requirements on restaurants, colleges, schools, shopping malls, bakeries and many other businesses and institutions. The Clean Air Act was created to address local and regional air pollution, not the emission of carbon dioxide and other global greenhouse gases."

Bill Bush | 202-682-8069 | bushw@api.org

4/16/2009
API's Doug Morris testifies at San Francisco meeting on MMS Five-Year Plan for offshore leasing
The U.S. Interior Department’s Minerals Management Service is holding a series of four public meetings to discuss the agency’s proposed five-year plan for oil and natural gas leasing in federal waters. American Petroleum Institute Group Director of Upstream and Industry Operations Doug Morris spoke at the fourth meeting, held in San Francisco, California, on April 16, 2009.

Doug Morris Statement (as prepared for delivery)
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4/16/2009
U.S. first-quarter oil demand slumps to lowest level since 1998 – API, Monthly Statistical Report, Petroleum Facts at a Glance, Monthly Import Statistics for January 2009 (latest available)

4/15/2009
First-quarter 2009 U.S. drilling activity dips to 2004 levels - API

4/14/2009
API's Doug Morris testifies at Anchorage meeting on MMS Five-Year Plan for offshore leasing
The U.S. Interior Department’s Minerals Management Service is holding a series of four public meetings to discuss the agency’s proposed five-year plan for oil and natural gas leasing in federal waters. American Petroleum Institute Group Director of Upstream and Industry Operations Doug Morris spoke at the third meeting, held in Anchorage, Alaska, on April 14, 2009.

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4/8/2009
API's Sara Banaszak testifies at New Orleans meeting on MMS Five-Year Plan for offshore leasing
The U.S. Interior Department’s Minerals Management Service is holding a series of four public meetings to discuss the agency’s proposed five-year plan for oil and natural gas leasing in federal waters. American Petroleum Institute Senior Economist Sara Banaszak spoke at the second meeting, held in New Orleans, Mississippi, on April 8, 2009.

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4/6/2009
API's Tim Sampson testifies at Atlantic City meeting on MMS Five-Year Plan for offshore leasing
The U.S. Interior Department’s Minerals Management Service is holding a series of four public meetings to discuss the agency’s proposed five-year plan for oil and natural gas leasing in federal waters. American Petroleum Institute Manager of Exploration and Production Tim Sampson spoke at the first meeting, held in Atlantic City, New Jersey, on April 6, 2009.

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4/3/2009
API President Jack Gerard's Letter to Congress on meeting America's energy needs and restoring economic health
In a letter to Congress, API president and CEO Jack Gerard stresses that, if we are to get America back on the road to economic recovery, it is vital that we meet the energy needs of U.S. consumers today and in the future.

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4/2/2009
API statement on USGS increasing by 53 percent the resource estimate for Piceance Basin oil shale
WASHINGTON – The American Petroleum Institute today issued the following statement on the U.S. Geological Survey increasing by 53 percent the resource estimate for Piceance Basin oil shale:

“This new assessment increases USGS’ previous resource estimates of Piceance Basin oil shale by more than 50 percent, to over 1.5 trillion barrels. We agree with Secretary Salazar that the new resource estimates demonstrate the need for continued research and development efforts in order to produce this vast resource. That is why we were disappointed that the Interior Department recently delayed issuing a second round of oil shale research and development leases. Developing more of our nation’s oil and natural gas would generate much-needed revenues for federal, state and local governments, spur new job growth and increase America’s energy security. “

Cathy Landry | 202-682-8122 | landryc@api.org

4/1/2009
API Statement on the Senate Environment and Public Works Clean Air and Nuclear Safety Subcommittee’s Hearing on Oversight – the Environmental Protection Agency’s Renewable Fuel Standard

API, a nationwide trade association representing all aspects of America‟s oil and natural gas industry, supports a realistic and workable renewable fuels standard (RFS). Our industry is the nation's largest user of ethanol and is increasing the volume of renewable fuels in America‟s transportation fuel portfolio. Statement continued...

Karen Matusic | 202-682-8118 | matusick@api.org

3/18/2009
Cap and trade cost shocking - API
WASHINGTON – API released the following statement today in response to a news report citing an estimate from an Obama Administration official for much higher cap-and-trade costs:

“The White House’s unofficial new estimate for the cost of capping the nation’s greenhouse gas emissions is shocking. The nearly $2 trillion in fees that would be imposed on the use of natural gas, gasoline, coal and other fuels would increase energy costs for all America’s businesses and families, keeping our economy in low gear, eliminating jobs, depressing living standards and putting our domestic energy industries at a competitive disadvantage. The massive fees could also increase reliance on foreign energy. The American people and lawmakers deserve to know the full costs of all serious options for addressing climate change before any new policy is enacted.”

Bill Bush | 202-682-8069 | bushw@api.org

3/18/2009
API President Jack Gerard's Statement on Central Gulf of Mexico Lease Sale
WASHINGTON – American Petroleum Institute President Jack Gerard today issued the following statement on Central Gulf of Mexico Lease Sale 208, held in New Orleans, that received $703 million in high bids:

“The results of Lease Sale 208 underscore that, like most U.S. industries, the domestic oil and natural gas sector faces tough economic challenges, not only with the economy reeling but with oil prices half of what they were a year ago. The Obama administration’s plans to add billions of dollars in new taxes would have a devastating impact on an industry that supports six millions jobs and contributes billions of dollars to government revenue. These new taxes are ultimately anti-consumer, threatening millions of jobs, the nation’s economic recovery and energy security."

Cathy Landry | 202-682-8122 | landryc@api.org

3/18/2009
U.S. petroleum demand shrinks to lowest level since 2003 – API, Monthly Statistical Report, Petroleum Facts at a Glance, Monthly Import Statistics for December 2008 (latest available)

3/11/2009
API Statement on Interior Department's Establishment of Renewable Energy Zones
WASHINGTON – American Petroleum Institute issued the following statement by President Jack Gerard today regarding the Department of Interior’s decision to establish renewable energy zones:

“We agree with Secretary Salazar that our country needs to tap its plentiful domestic energy resources, including oil and natural gas. The oil and natural gas industry is one of the world’s largest producers of renewable energy, including wind, geothermal and solar and have invested more in emerging energy technologies than the U.S. federal government and private sector combined. We are encouraged by Secretary Salazar’s pledge that his department would facilitate ‘“a rapid and responsible move to large-scale production’ of alternative energy and we call on the department to apply this streamlined approach to the permitting process of the most important domestic energy source, oil and natural gas.”

Karen Matusic | 202-682-8118 | matusick@api.org

3/11/2009
API Statement Regarding Interior Department's Announcement on Outer Continental Shelf Hearings
WASHINGTON – American Petroleum Institute issued the following statement by President Jack Gerard today regarding the Department of Interior’s decision to host four regional public meetings in April to present Interior’s findings on Outer Continental Shelf (OCS) energy resources and potential environmental impacts from their development:

“We look forward to seeing the Department’s report because it will show that America has vast untapped offshore oil and natural gas resources that could be produced safely to put this country’s economy back on its feet and create more jobs. As Secretary Salazar and Secretary Chu have said, oil and natural gas development is a vital component of a comprehensive energy plan. We need to be mindful in this tough economic environment that a counterproductive proposal for massive new taxes would discourage the development of new oil and gas supplies, resulting in lost U.S. jobs and higher energy costs for Americans. As every respected projection shows, oil and natural gas will continue to meet most of the nation’s energy requirements for many years. We need policies that recognize that.”

Karen Matusic | 202-682-8118 | matusick@api.org

2/26/2009
API President Jack Gerard's Statement on Tax Provisions in Budget
WASHINGTON – American Petroleum Institute President Jack Gerard today issued the following statement on provisions included in the FY 2010 budget submitted to Congress aimed at imposing new taxes on the oil and natural gas industry:

“With America in the midst of an economic recession, now is not the time to impose new taxes on the nation’s oil and natural gas industry. New taxes could mean fewer American jobs and less revenue at a time when we desperately need both. More taxes also could reduce our nation’s energy security by discouraging new investment in domestic oil and natural gas production and refining capacity and pushing those investments – and American jobs – abroad.”

Cathy Landry | 202-682-8122 | landryc@api.org

2/25/2009
API chairman: Expanded access yields jobs, revenue
WASHINGTON – Larry Nichols, chairman of the American Petroleum Institute, told the U.S. House Natural Resources Committee that allowing development in areas of the Outer Continental Shelf that had been off-limits for 27 years would generate much-needed revenues to federal, state and local governments and add well-paying American jobs.

2/25/2009
API President Jack Gerard's Statement on Virginia Lease Sale
WASHINGTON – American Petroleum Institute President Jack Gerard today issued the following statement on Virginia Governor Tim Kaine’s letter asking Interior Secretary Ken Salazar to postpone a proposed lease sale scheduled for 2011 offshore Virginia:

“A pattern seems to be emerging when it comes to developing America’s offshore resources – delay. We saw it earlier this month when Secretary Salazar extended by six months the comment period on the upcoming five-year plan for oil and natural gas development, and we’re seeing it now from Governor Kaine, who is asking for a postponement of an offshore Virginia lease sale, scheduled two years ago after extensive public comment and environmental review.

We cannot afford to delay. Our nation must deal now with its critical energy challenges. Every day we delay is another day that we are depriving Americans of the jobs that can be generated through development. It is another day that federal, state and local governments go without the enormous revenues oil and natural gas exploration generates. And it is another day that we sit around watching our energy security erode.

Americans support expanded development of our domestic resources. Even as oil and gasoline prices have plummeted in recent months, 61 percent say they want to see development of our resources in off-limits federal waters. A full 70 percent of Virginians in a July poll supported increased offshore development. It is time to start listening to the wisdom of the American people and stop putting off until tomorrow what we should be doing today.”

Cathy Landry | 202-682-8122 | landryc@api.org

2/24/2009
Statement from API President Jack Gerard
WASHINGTON – The American Petroleum Institute issued the following statement today from President Jack Gerard on President Obama’s speech:

"President Obama’s speech tonight elevates energy as a critical national priority and signals to the American people the importance of developing a comprehensive energy policy. That policy should include all forms of energy, including oil and natural gas.

America needs all the energy it can get to fuel a recovery and create jobs. While alternatives, efficiency and conservation will play an important role in the future, oil and natural gas are needed now and will be needed for decades as a bridge to fuel America’s economy.

The American people should not be deprived access to the nation’s onshore and offshore oil and natural gas resources, including those in federal waters on the Outer Continental Shelf off the Atlantic, Pacific and in the Gulf of Mexico. The oil and natural gas industry is ready to safely develop those resources and create jobs, spur economic growth, reduce our dependence on foreign oil and generate new tax revenues for federal, state and local governments."

Robert Dodge | 202-682-8127 | dodger@api.org

2/23/2009
Energy policy must plan for oil and natural gas - API
WASHINGTON – The American Petroleum Institute issued the following statement from its President Jack Gerard regarding the energy summit held in Washington, D.C. today, hosted by Senator Harry Reid and the Center for American Progress Action Fund:

“Energy policy must recognize we need more oil and natural gas along with more alternatives and increased energy efficiency. According to projections, oil and gas will be the principal driver of our economy for decades. They’ll fuel most infrastructure projects, heat most homes, and power most vehicles.

The need to develop more oil and gas is a central reality of our energy future. Much of these resources can be developed here at home, generating large numbers of U.S. jobs and trillions of dollars in government revenue.”

Bill Bush | 202-682-8069 | bushw@api.org

2/23/2009
Poll: Voters support offshore development

2/18/2009
U.S. oil demand continues slowdown in January – API, Monthly Statistical Report, Petroleum Facts at a Glance, Monthly Import Statistics for November 2008 (latest available)

2/11/2009
API Statement on Testimony of Ted Danson on Offshore Development, Jobs and the Environment Before the House Natural Resources Committee

2/10/2009
Interior Secretary Ken Salazar’s stalls domestic offshore development
WASHINGTON – American Petroleum Institute President Jack Gerard today issued the following statement on Interior Secretary Ken Salazar’s announcement that he would extend the Outer Continental Shelf Five-Year Plan comment period by 180 days:

“Congress made the American people wait nearly 30 years to address our immediate energy challenges. Secretary Salazar today told the American people they must continue to wait – even though more than two-thirds of them want to tap our vast domestic resources for the benefit of all Americans.

The accelerated Outer Continental Shelf five-year plan process, which the secretary placed on hold today, was designed to address the critical energy concerns facing Americans. The draft plan already received a record 120,000 comments from states, environmental groups, industry, labor groups and members of the public – with 87,000 of those comments supporting expanded and expeditious development.

Secretary Salazar’s announcement means that development of our offshore resources could be stalled indefinitely. That would delay Americans’ access to nearly 160,000 new, well-paying jobs, $1.7 trillion in revenues to federal, state and local governments and greater energy security.

We share Secretary Salazar’s view that America needs a comprehensive energy policy that includes alternatives. In these tough economic times, Salazar’s delay does a disservice to all Americans. We should be moving as quickly as possible to develop more of our own oil and natural gas to benefit all Americans.”

For more information, see the API Fact Sheet about expanded offshore development and the stalled Outer Continental Shelf Five-Year Plan.

Cathy Landry | 202-682-8122| landryc@api.org

2/9/2009
Trade Associations Send Letter on OCS to U.S. Representative Nick J. Rahall II

2/4/2009
Interior Utah leasing decision troubling - API
WASHINGTON – The American Petroleum Institute issued the following statement today from its President Jack Gerard regarding the Department of Interior’s decision to cancel leases on 77 parcels of land in Utah:

“We hope today’s decision does not signal the administration is returning to the failed policies of the past, leaving much of America’s vast energy resources locked up while the nation’s demand for energy continues to grow.

The decision runs counter to President Barack Obama’s stated goal of reducing U.S. reliance on foreign energy sources and is at odds with the judgment of most Americans that the nation should develop more of its own oil and natural gas. With U.S. domestic oil production declining, we need to develop more and keep more jobs and economic activity in this country. Development would be good for consumers and for the nation’s energy security. With current technology and industry practices, our companies are able to develop vital energy resources while protecting the environment. The leases in question involve non-park, non-wilderness lands.”

Bill Bush | 202-682-8069 | bushw@api.org

2/3/2009
API's statement on Senator Boxer's climate change proposal
WASHINGTON – The American Petroleum Institute issued the following statement today from its president Jack Gerard:

“Today, Senator Boxer put forward her thinking on the importance of addressing the risk of climate change. The oil and natural gas industry is ready to participate in the discussion and is already contributing to the national effort to reduce greenhouse gas emissions. Since 2000, it has invested $42 billion into zero- and low-carbon research and development, accounting for 45 percent of all spending by U.S. companies and the federal government combined. API members are major players in solar energy, wind power, geothermal energy, biofuels, advanced batteries and carbon capture and sequestration.

We believe Senator Boxer’s and all other climate change proposals should be openly discussed and analyzed in order to arrive at the most transparent and cost-effective solution to global climate change. We also believe that cost-efficiency and success in controlling emissions will best be achieved through a uniform national policy. A patchwork of state and local regulations or the use of the Clean Air Act could hamper efforts to reduce emissions and slow economic growth.”

Bill Bush | 202-682-8069 | bushw@api.org

2/3/2009
Study: Windfall Profits Tax Could Harm Economy, Jobs

1/26/2009
API Statement on President Obama’s Energy Announcement
WASHINGTON – The American Petroleum Institute today issued the following statement:

"API supports President Obama’s desire to fortify the nation’s energy security with a comprehensive energy policy. The oil and natural gas industry, which supports 6 million workers, stands ready to advance those national goals and we urge policymakers to proceed with plans to extend new leases on non-park federal lands and waters to develop energy resources that belong to the American people.

However, the President’s directive to the Environmental Protection Agency to reconsider its denial of California’s request for a waiver that stopped California and 13 other states from implementing their own limits on auto emissions is not the way to go on reducing greenhouse gas emissions. Creating a patchwork regulatory structure across multiple states would most likely impose higher costs on consumers, slow economic growth and kill U.S. jobs. The oil and natural gas industry already is doing its part: Since 2000, it has invested $42 billion into zero- and low-carbon research and development – that’s 45% of all spending by U.S. companies and the federal government, combined.

Climate change is a global issue that affects all nations, and API supports an open, fact-based public debate to create a federal policy on reducing greenhouse gas emissions."

Robert Dodge | 202-682-8127 | dodger@api.org

1/16/2009
API President Jack Gerard comments on MMS five-year plan
WASHINGTON – American Petroleum Institute President and CEO Jack Gerard today issued the following statement on the new Interior Department five-year oil and natural gas leasing plan, which proposes lease sales in recently opened areas off the Atlantic, Pacific and Eastern Gulf of Mexico Outer Continental Shelf:

“American consumers have been demanding access to the oil and natural gas located off our coasts and the draft proposed five-year plan, with its inclusion of areas that had been off-limits for more than 20 years, is a good step in the right direction. Developing our domestic resources is crucial to getting our nation’s economy back on its feet and getting more Americans back to work in well-paying jobs. A recent study showed that developing the oil and natural gas resources that had been off-limits for decades could bring in nearly two trillion dollars in revenue to federal, state and local governments, which could be used to fund schools, hospitals and other critical services. The study also showed that 160,000 new jobs could be created by 2030 if these resources were developed.

America’s oil and natural gas companies have proven they can develop resources in an environmentally safe way. It is imperative Congress and the Obama administration allow this plan to move forward so our industry can do what it does best – supply the energy America needs.”

Cathy Landry | 202-682-8122 | landryc@api.org

1/15/2009
API: Industry Contributes to Climate Change Debate

1/15/2009
U.S. petroleum demand shrinks to lowest level since 2003 – API, Monthly Statistical Report, Petroleum Facts at a Glance, Monthly Import Statistics for October 2008 (latest available)

1/13/2009
API President Jack Gerard issues statement regarding the Anadarko court decision
WASHINGTON – American Petroleum Institute President and CEO Jack Gerard today issued the following statement in the wake of a federal appeals court’s decision finding for Anadarko Petroleum in a case regarding royalty collection:

“The Fifth Circuit panel has unanimously affirmed that Congress, when it passed the Deepwater Royalty Relief Act, provided royalty relief, based only on a volume limitation, not price. That Act was passed at a time of historically low crude oil prices as a means to increase production and sustain jobs in a struggling industry. It was enormously successful, helping to boost deepwater Gulf of Mexico production by 50 percent in less than a decade. This production, which Congress considered would likely remain in the ground for years without the royalty relief program, helps reduce our dependence on foreign oil and keep jobs at home.

The Deepwater Royalty Relief Act is an example of constructive policy that encouraged the development of our own domestic resources and achieved the desired results by creating jobs, generating government revenues and enhancing America’s energy security. Going forward, we trust Congress will continue to pursue constructive energy policies that benefit the American people, while resisting the urge to take steps that attempt to change the rules of the game midstream and that discourage investment. The oil and natural gas industry remains highly cyclical, as demonstrated by the huge swings in prices over the past 12-15 years. Congress and the administration need to take a comprehensive, long-term approach to meeting America’s critical need for reliable, domestic energy supplies.”

Cathy Landry | 202-682-8122 | landryc@api.org

1/13/2009
U.S. drilling activity jumps 19% in fourth quarter, 15% for year – API

1/5/2009
2007 drilling expenditures hit new all-time high at over $220 billion

For previous news items, please see Archive