API: Expanding Access to Offshore O&G Development Receives Support (USA)

There is broad and bipartisan support from the public and policymakers at the state and federal level for expanding access to offshore oil and natural gas development, API said in a press release issued yesterday.

API Director of Upstream & Industry Operations Erik Milito told reporters yesterday afternoon:

“The United States has an opportunity that few nations ever get. We have a chance to be a dominant player in global energy markets and guarantee our energy security for decades ahead. Achieving this feat must include tapping into oil and natural gas resources off our coasts in the Atlantic, Pacific, the Arctic and eastern Gulf of Mexico.

“There is broad support from both policymakers and the public, and we need to begin taking the steps to ensure the nation’s long-term energy security. Offshore oil and natural gas production is a long-term effort that requires long-term planning.

“We urge President Obama to work with Congress, the states and the industry to take advantage of the valuable opportunity presented by expanding access to offshore energy production and by expanding revenue sharing for coastal states. The benefits for American families, businesses, and our long-term energy security are too great to let this opportunity slip away.”

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $85 million a day in revenue to the government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

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Press Release, June 6, 2013