Reid Porter | 202.682.8114 | porterr@api.org

WASHINGTON, April 1, 2011 – API today issued the following statement regarding President Obama’s remarks on environmentally-friendly vehicle fleets for company operations:

“We welcome the president’s focus on natural gas as an option for transportation fuels and hope to see administration policies and programs that will encourage, rather than discourage, the production and distribution of this important domestic resource,” said API Director of Downstream Operations Bob Greco. “We also need sensible policies that preserve a robust U.S. refining industry to supply fuels for the existing vehicle fleet for years to come. We hope that the president is signaling a true shift for clear, effective policies that make use of our domestic resources while preserving this important industry.  

“Administration support for new onshore drilling technologies here at home as well as offshore exploration and production is essential if we are to meet America’s future energy challenges.

“The oil and natural gas industry will continue to reliably supply fuel for the 250 million cars and trucks on the road, as well as an equivalent number of smaller engines, as we also invest in the development of alternatives,” said Greco. “Ultimately, free market competition and consumer choice should drive our energy decisions, without the federal government dictating one source of transportation fuel over another.”

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.