The American Petroleum Institute today filed a motion to intervene in federal court to defend President Trump’s revocation of the prior administration’s ban on new oil and natural gas leasing across millions of acres of federal waters. The motion comes in response to a lawsuit filed by activists that seeks to prevent the Trump administration from reversing this politically motivated ban.
“This lawsuit is out of touch with the majority of American voters who sent a clear message in support of domestic energy development,” API Senior Vice President and General Counsel Ryan Meyers said. “Today we’re taking action to defend President Trump’s reversal of this politically motivated decision and ensure our nation’s vast offshore resources remain a critical source of affordable energy, government revenue and stability around the world.”
According to the U.S. Energy Information Administration, U.S. offshore production accounts for 14% of total U.S. crude oil production, or nearly 2 million barrels of oil per day. Robust offshore oil and natural gas development could generate over $8 billion in additional government revenue by 2040.
America’s offshore resources are not only significant for our energy security, but also generate among the lowest carbon-intensive barrels produced anywhere in the world.
