U.S. RAISES GAS PRICES
President Obama's plans to add costly new regulations on methane when emissions are already falling could harm America's shale energy revolution that has lowered energy costs for American consumers by $700 a year at the pump and $1200 in home utility bills, said API Vice President of Regulatory and Economic Policy Kyle Isakower.
"Additional regulations on methane by the administration could discourage the shale energy revolution that has helped America lead the world in reducing emissions while significantly lowering the costs of energy to consumers. The administration is catering to environmental extremists at the expense of American consumers.
"America is already leading the world in reducing greenhouse gas emissions. Even as oil and natural gas production has risen dramatically, methane emissions have fallen, thanks to industry leadership and investment in new technologies. These industry-led efforts are a proven way to reduce methane emissions from existing sources, and they are clearly working.
"Let's not forget that the safe and responsible development of energy from shale has helped the U.S. cut CO2 emissions to near 20-year lows. The last thing we need is more duplicative and costly regulations that could increase the cost of energy for Americans and that could potentially drive up greenhouse gas emissions."
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