American Petroleum Institute (API) President and CEO Jack Gerard welcomed the Trump administration’s executive action to advance domestic energy production.
“We are pleased to see this administration prioritizing responsible U.S. energy development and recognizing the benefits it will bring to American consumers and businesses,” said Gerard. “Developing our abundant offshore energy resources is a critical part of a robust, forward-looking energy policy that will secure our nation’s energy future and strengthen the U.S. energy renaissance.
“We must particularly look to and embrace the future development of domestic sources of oil and natural gas in the eastern Gulf of Mexico. Exploration in this area is critical to our national security, and we continue to see our neighbors in Mexico and Cuba pursue these opportunities. The eastern Gulf is in close proximity to existing production and infrastructure, and opening it would most quickly spur investment and economic activity, which could create thousands of jobs and provide billions of dollars in government revenue.
“The administration has also taken important steps toward increasing the safe development of our energy resources onshore by ordering a critical examination of how previous administrations’ frequent and sweeping use of the Antiquities Act has reduced the availability of multiple use public lands and the resources they hold for the benefit of the American people.
“The U.S. oil and natural gas industry has a long history of safe operations that have advanced the energy security of our nation and contributed significantly to our nation’s economy. And 80% of American voters support increased domestic oil and natural gas production. We look forward to continuing our work with the administration and Congress on policies that will fully embrace our nation’s offshore and onshore energy potential to meet the energy needs of American consumers and businesses.”
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% of the U.S. economy.