API: New Jersey legislature ignores economic benefits and energy security
Reid Porter | 202.682.8114 | porterr@api.org
WASHINGTON, July 1, 2011—API’s President and CEO Jack Gerard today issued the following statement on the decision by the New Jersey legislature to issue a statewide ban on the use of hydraulic fracturing:
"The state legislature in New Jersey has passed a misguided statewide ban on hydraulic fracturing that follows a reckless path and ignores the economic benefits to job creation, revenue to the government, and America’s need for energy.
"A blanket ban on a proven technology used for over 60 years is short-sighted and irresponsible, particularly when New Jersey benefits from safely produced natural gas in neighboring states."
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 7.7 percent of the U.S. economy, delivers $86 million in revenue to our government every day, and, since 2000, has invested nearly $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
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