Gerard urges quick approval of LNG export terminals

WASHINGTON, May 16, 2013 – API President and CEO Jack Gerard congratulated Ernest Moniz on his Senate confirmation to become Secretary of the Department of Energy and urged Secretary Moniz to quickly approve LNG export projects that will create American jobs and help lower our national debt:

“We congratulate Secretary Moniz on his confirmation. His vast energy experience in oil and natural gas has prepared him well to lead the department at this historic time. We look forward to working with the secretary and urge him to quickly approve LNG export applications that would mean more jobs and growth and an improved balance of trade. If we allow natural gas producers to export natural gas, American workers and our nation’s economy will be better off.

“Secretary Moniz understands the energy revolution underway in the United States. New technology and the use of that technology are showing we have vastly more energy potential than we thought we had even just a short time ago. The U.S. is awash in natural gas with huge additional productive capacity that can fully supply domestic markets with affordable and clean-burning natural gas, enhance our energy security and allow for exports well into the future.”

U.S. LNG exports could create tens of thousands of domestic jobs while having only minimal impacts on domestic U.S. natural gas prices, a new report for API by ICF International finds.

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 $85 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.