API welcomes House vote on all-of-the-above energy package

WASHINGTON, September 18, 2014 – API welcomed House passage of legislation, H.R. 2, to promote American energy development, approve the Keystone XL pipeline, remove regulatory barriers to infrastructure investments, and expedite approval for exports of U.S. liquefied natural gas (LNG).

“The House energy package would remove multiple government barriers that are holding back the job-creating potential of America’s energy revolution,” said API Upstream Group Director Erik Milito. “The U.S. is now the world’s top producer of natural gas and projected leader in global oil production, yet red tape and stalled permits make it harder to invest in the infrastructure that will create jobs, lower energy costs, and harness America’s full strength as an energy superpower.

“LNG exports alone are expected to create up to 450,000 new U.S. jobs, and each new export terminal strengthens our ability to promote stability on the world stage. Yet, dozens of terminals still await final permits. At the same time, the Keystone pipeline will mark its sixth year of regulatory obstruction this week. The House has shown that it’s ready to fuel new economic growth by unlocking America’s energy potential, and we urge Senate leaders to follow suit.”

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 600 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 20 million Americans.