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US energy critical to Obama’s message

Hydrocarbon Engineering,

American Petroleum Institute (API) President and CEO Jack Gerard has said that the President Obama’s economic address as Northwestern University celebrated the results of America’s energy revolution but omitted key steps forward. Gerard said, ‘we appreciate the president once again acknowledging the economic success that has been driven by America’s oil and natural gas industry. As he noted, oil imports have been cut in half and rising natural gas production is revitalising manufacturers while reducing carbon emissions to near 20 year lows. But let’s be clear, our energy renaissance has occurred despite White House policies, thanks primarily to the support of private investors and state governors who have worked diligently to support new development.’

Gerard also noted that oil and natural gas production on federally controlled territory fell substantially from 2009 – 2013, according to the Congressional Research Service.

‘The president said that job growth could be so much faster, which could drive up wages. We could not agree more, which is why our energy policy should match the all of the above rhetoric we hear from the White House,’ said Gerard.

‘Limited access to federal lands and 70s era trade restrictions continue to threaten the progress of our energy revolution. Washington should recognise that energy can be key to raising incomes and lowering costs for American families. The average oil and natural gas job pays about seven times the federal minimum wage. By turning aside duplicative regulations, opening the door to US energy exports, and eliminating counterproductive fuel mandates, we can create millions of new jobs and achieve a new era of energy security.’

Edited from press release by Claira Lloyd

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