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API applauds proposal to expand access to domestic energy resources

Carlton Carroll | 202.682.8114 | carrollc@api.org

WASHINGTON, March 31, 2011 – Con Lass, API senior director of federal relations, applauded legislation introduced today by Senator Vitter (R-LA) and Congressman Rob Bishop (R-UT) that would increase access to our own domestic energy supplies:

“The oil and natural gas industry stands ready and willing to do more to help grow the economy, create American jobs, and provide the energy this country needs. There’s a growing recognition in Congress that Americans want less political rhetoric and more honest efforts like this proposal to expand domestic production of oil and natural gas.

“The fact is that 85 percent of our offshore resources are off-limits to development despite increased uncertainty in world oil markets and rising worldwide demand for crude oil. The energy markets are constantly looking for signals to guide today’s investment strategies for meeting our growing demands. The administration is sending a clear message on energy that will discourage investment in America, and that could be devastating to our energy future, but proposals like this could put us back on the right track.”

API represents more than 470 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports more than 9.2 million U.S. jobs and 7.5 percent of the U.S. economy, and, since 2000, has invested nearly $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.