API applauds energy package House vote

API welcomed House passage of legislation, H.R. 2, to promote American energy development, approve the Keystone XL pipeline, remove regulatory barriers to infrastructure investments, and expedite approval for exports of U.S. liquefied natural gas (LNG).

“The House energy package would remove multiple government barriers that are holding back the job-creating potential of America’s energy revolution,” said API Upstream Group Director Erik Milito. “The U.S. is now the world’s top producer of natural gas and projected leader in global oil production, yet red tape and stalled permits make it harder to invest in the infrastructure that will create jobs, lower energy costs, and harness America’s full strength as an energy superpower.”

“LNG exports alone are expected to create up to 450,000 new U.S. jobs, and each new export terminal strengthens our ability to promote stability on the world stage,” further said Milito.

Yet, dozens of terminals still await final permits. At the same time, the Keystone pipeline will mark its sixth year of regulatory obstruction this week. The House has shown that it’s ready to fuel new economic growth by unlocking America’s energy potential, and API urges Senate leaders to follow suit.

Press Release, September 19, 2014; Image: Dominion