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2016-03-15 19:00:00

AMERICAN ENERGY SECURITY

AMERICAN ENERGY SECURITY

Allowing more offshore oil and natural gas development is one of the best ways policymakers can grow the economy, strengthen our energy security and raise more revenue for competing priorities – from education to infrastructure and conservation, according to API Director of Upstream and Industry Operations, Erik Milito.

"This is American energy security, American jobs, U.S. government revenue and American GDP tied up by political red tape. This is a once in a generation opportunity, stuck, off limits to future generations as it waits for forward-looking energy policy.

"Just today, a petition signed by more than 186,000 concerned citizens from around the country – but mostly from coastal states – is being delivered to Secretary Jewell's office. More and more Americans will continue to write in support as the discussion continues. More than 500,000 energy voters submitted comments during the previous comment period.

"We've seen the benefits of our U.S. energy renaissance. U.S. consumers see it at the gasoline pump and in their home energy bills. Americans read about the positive geopolitical impacts on a daily basis. This is a big opportunity and if the U.S. is to continue the success we've seen over the past decade of American energy leadership and our ability to compete on the global market, the time to get it right on energy policy is now.

"Keeping federal offshore acreage off limits to development is not in America's interests. The revenue generated by offshore oil and natural gas production can help state and local governments afford to develop or upgrade tourist attractions, infrastructure and beach projects. A revenue sharing agreement like the one in effect for states bordering the Gulf of Mexico should also be extended to other coastal states. Every state that hosts oil and natural gas development off its shores should get a fair share of the revenue collected by the federal government."

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API's more than 650 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation's energy and are backed by a growing grassroots movement of more than 30 million Americans.

api.org

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More: 

U.S. RAISES GAS PRICES 

U.S. OIL PRICES UP 

U.S. RIGS DOWN 9 

U.S. OIL PRODUCTION DOWN 

U.S. LNG UP

 

 

Tags: USA, OIL, GAS

Chronicle:

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U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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