American Petroleum Institute (API) Executive Vice President for Governmental Affairs, Louis Finkel, delivered a strong opening statement at a recent press conference on Environmental Protection Agency (EPA) emissions proposals: “I’m very pleased to join my colleagues…to express our concerns about the EPA’s seemingly relentless drive to eliminate energy choices for US businesses and consumers”.
Finkel went on to say: “The new EPA rule ignores the success of our free market and guarantees adverse consequences for nearly every consumer and business in the United States.
“American refineries, for example, have been a tremendous bright spot in the US economy. But energy is the second largest cost associated with operating a competitive refinery. Given the potential impact of the rule on electricity prices, business like these will have no choice but to reevaluate new investments based on electricity sources that are less affordable and less secure.
And…this uncertainty could have a chilling effect on investments throughout the manufacturing sector, potentially costing millions of jobs and damaging all aspects of our economy. Moreover, by eliminating diversity in our fuel choices, this rule creates the potential for future price spikes that would do the greatest harm to those who can least afford it – hardworking American consumers”.
Finkel additionally emphasised that the member of the API strongly believe that economy prosperity and environmental progress are not mutually exclusive. “From 2000 – 2012, America’s oil and natural gas industry invested more in zero and low emissions technologies than the federal government and nearly as much as all other industries combined”.
Finkel concluded by saying that America’s success as an energy superpower depends on new rules that are designed to complement, not strangle, the economic revolution spurred by new energy production.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24072014/api-on-epa-proposals-998/