Recent administration policies that abandon a true ‘all of the above’ energy future will harm American consumers, the US economy and national security, according to the American Petroleum Institute (API).
“Pausing the public lands leasing programme for coal, which supplies nearly 40% of US electricity, denies reality,” said API President and CEO, Jack Gerard. “We need more supplies of all types of energy if we are to sustain our economy and provide affordable energy to US businesses and consumers. The administration has adopted the view of extremists with a ‘leave it in the ground’ agenda, with consumers suffering the consequences.
“The US is a case study for how we can grow our economy, create jobs, and become the world leader in reducing emissions through market driven innovation, not government programmes. We can produce the energy our country needs while protecting our environment. API supports an ‘all of the above’ plan that encourages all energy sources to ensure we can meet the energy needs of a growing economy.
“Just as those who don’t know history are doomed to repeat it, those who don’t recognise the contributions of the American energy revolution are likely to undermine it. The assumption that energy production and emissions reductions are mutually exclusive has been rendered obsolete by the facts, and policies based on this flawed idea are likely to damage the economy and harm consumers,” said Gerard.
The API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million US jobs and 8% of the US economy. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 30 million Americans.
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/product-news/18012016/api-says-consumers-at-risk-from-administration-energy-policy-2179/