Ahead of President Obama’s budget due next week, API Group Director of Upstream and Industry Operations, Erik Milito, urged the administration and policy makers to embrace America’s proven market-based approach to energy, which has made the US a global leader in oil and gas production.
Milito said, “A few years ago the US was counted out as an oil and natural gas superpower, but we defied the odds to become the world’s largest producer of natural gas and a world leader in crude production. Our energy renaissance has been led by shale energy development, extracting oil and gas from rocks at a scale and efficiency level that was unthinkable not long ago.”
“The administration and policy makers can embrace the successful free market approach by basing decisions on sound science and allowing opportunities for exploration and development. This is an issue onshore and offshore. For both, the science is clear. The data and facts overwhelmingly support the conclusion that hydraulic fracturing and seismic testing have and can continue to be done safely.”
Milito continued, “This week, the Senate is on the right track as it debates a comprehensive and bipartisan energy bill that seeks to advance the successes achieved in the US by ensuring that natural gas pipelines are permitted more efficiently, providing a streamlined process for LNG exports, and fostering greater diversity in the energy and manufacturing industries.”
Milito concluded, “Smart energy policy is imperative for the continued US global energy leadership and helping US consumers. Our model doesn’t stifle American investment with overregulation or a one size fits all approach to federal rulemaking. Instead, it allows for the free market and innovation to thrive. Let’s allow these market driven initiatives to continue reducing carbon emissions without risking our economy and American jobs.”
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/refining/05022016/api-obama-administration-should-support-us-energy-prosperity-and-consumers-2382/