API supports administration’s infrastructure goals
API President and CEO Jack Gerard said industry can help achieve the Obama administration’s goal of creating a modern infrastructure system for the United States.
Gerard said, “Essential infrastructure improvements in just the oil and natural gas area could, over the next decade, attract as much as $1.15 trillion in new private capital investment, support 1.15 million new jobs, and add $120 billion on average per year to our nation’s GDP.”
America is the number one producer of natural gas in the world and it will soon become number one oil producer stressed Gerard, but he added that these products cannot be delivered to consumers without a modern infrastructure system.
“We need pipelines like Keystone XL to fully realize our energy potential. Pipelines are one of the safest modes for transporting product and we need more of them. Keystone is but one example of a pipeline that, if approved, could benefit consumers by increasing the amount of fuel to the market place while stimulating job and economic growth, and all without costing taxpayers a dime,” Gerard added.