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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:

AMERICAN ENERGY SECURITY
November, 15, 15:25:00

OIL PRICE: ABOVE $61 AGAIN

REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.

AMERICAN ENERGY SECURITY
November, 15, 15:20:00

IEA COOLS THE MARKET

BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.

AMERICAN ENERGY SECURITY
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

AMERICAN ENERGY SECURITY
November, 15, 15:10:00

RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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