API issues statement on Kerry-Boxer climate bill

Robert Dodge | 202.682.8127 | dodger@api.org

WASHINGTON, September 30, 2009 – The American Petroleum Institute issued the following statement today from President Jack Gerard on the Kerry-Boxer climate bill:

“Unfortunately, the Kerry-Boxer legislation is beginning to look a lot like the House’s Waxman-Markey bill and a loser for American consumers. We can do better. If the Kerry-Boxer approach mimics the House bill, as early indications suggest, it will undermine our energy security by making American consumers more reliant on foreign sources of refined products, kill jobs and increase fuel costs.

“America needs all the jobs we can get and our economy will need energy from all sources to fuel a recovery and sustain economic growth.

“The 9.2 million workers supported by the oil and natural gas industry have a hard time understanding how America’s economy will be better by threatening or eliminating their jobs and the jobs of those who depend on the energy they produce. And with America depending on fossil fuels for a substantial portion of its energy, many American consumers will wonder why their elected leaders in Washington are supporting policies that will likely raise energy costs and constrict supplies without delivering a realistic and measurable benefit to the environment.

“Analysis has shown Waxman-Markey would drive fuel prices up to between $4 and $5 a gallon and double our dependence on imports of gasoline and other fuels. We strongly encourage the Senate to not follow the House example.”