API Executive Vice President Louis Finkel said legislation introduced today by a small number of Democratic senators increasing liability for oil and natural gas companies is unnecessary and out of step with voters’ energy priorities.
“Congress should be focused on strengthening the U.S. energy resurgence, which has lowered consumer costs, boosted manufacturing and enhanced national security,” said API Executive Vice President Louis Finkel. “This legislation is just the latest evidence that a handful of policymakers are out of step with consumers, who overwhelmingly support increasing domestic oil and natural gas production.
“The oil and natural gas industry has worked closely with regulators to make offshore energy exploration safer than ever. Existing laws have been effective for funding recovery in the rare event of an accident. This legislation is unnecessary and another example of anti-energy politicians singling out the oil and natural gas industry for punitive treatment.”
API is the only national trade association representing all facets of the oil and natural gas industry.