WASHINGTON, May 29, 2012—API Upstream Director Erik Milito issued the following statement regarding the International Energy Agency (IEA) report “Golden Rules for a Golden Age of Gas,” released today, which recognizes API as a global leader in U.S. oil and natural gas industry standards and best practices.
“We are pleased to see that the IEA report acknowledges that the U.S. oil and natural gas industry has already implemented tough environmental standards, operates under stringent state regulations, and is transparent about its operations. The shale revolution is changing the face of American energy development, adding billions in state and federal revenue and reducing our trade deficit.
“The IEA and others around the world see these benefits and are looking to the U.S. as the leader in safe and responsible shale energy production. API and our members are committed to best practices and disclosure through FracFocus, as noted by IEA.
“The release of this draft report offers an opportunity for global conversation on the best ways to continue responsible and efficient development of energy from shale.”
API represents more than 500 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.