API applauds Senate action to advance broad energy bill

WASHINGTON, July 12, 2016 –The American Petroleum Institute applauded the Senate’s action today to go to conference on S. 2012, the Energy Policy Modernization Act. 

“This bill has the potential to create jobs, lower energy prices, and make our nation more energy secure,” said Louis Finkel, API executive vice president for government affairs. 

“Our nation is the number one producer of oil and natural gas in the world and the global leader in reducing carbon and other emissions, which are near 20-year lows,” said Finkel. “This bill could help continue this U.S. energy renaissance by strengthening our nation’s energy infrastructure, ensuring that American natural gas has a dominant place on the world market, and putting in place a 21st century workforce. It’s estimated that almost a million jobs could be created by 2020 if our nation’s current renaissance continues.”

API thanked the bipartisan leadership in the Senate for moving this bill forward and looks forward to the next steps in the legislative process.

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 650 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 30 million Americans.