Washington, December 5, 2012 – API Senior Economic Advisory Rayola Dougher said that Energy Outlook released today by EIA adds to the growing chorus that predicts increased domestic energy production could make America a global energy giant in just a few short years:

“Today’s EIA report affirms that the United States can use its ample supply of oil and natural gas to be a world leader in energy. We have an unprecedented opportunity to create millions of new jobs and generate hundreds of billions of dollars for our government. But, in order to move forward with this remarkable opportunity, we must avoid public policies that raise taxes, impose burdensome and unnecessary regulations, or pit one energy source against another."

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.