American Petroleum Institute (API) President and CEO Jack Gerard applauded President Trump’s executive action to establish regulatory reform task forces at government agencies to identify regulations that could be repealed, replaced or changed.
“In the past few years, our industry has faced a regulatory onslaught with 145 new rules and regulations aimed at hindering the development of our nation’s energy resources,” said Gerard. “Today’s action by President Trump will unleash innovation across the nation, and it will allow our economy to grow, help lower energy costs for consumers and help American workers.
“We are the number one producer and refiner of oil and natural gas, and we are leading the world in lowering carbon emissions. In order to continue our nation’s leadership on these critical issues, we must have smart, common-sense regulations that will continue to drive innovations in technology and support America’s energy renaissance.”
API is the only national trade association representing all facets of the oil and natural gas industry.