American Petroleum Institute Shares 2016 Expectations
Push for Less Regulation, Continued Industry Momentum Among Focal Points
API President and CEO Jack Gerard delivered the keynote address at API's Sixth Annual State of American Energy event, releasing the State of American Energy 2016 report and highlighting the energy issues that will shape America's economic and political news this year.
"The United States begins this new year leading the world in energy production, economic growth, and lowering our greenhouse gas emissions — a trifecta unmatched by any other country today,” Gerard said. “The gains we've made and our ability to sustain them in the years to come are largely dependent on the energy policies we pursue.”
Bringing about a brighter energy future involves lower costs for American consumers, a cleaner environment and American energy leadership, he continued.
During the year to come, Gerard said he hopes that U.S. model will be embraced. "We hope that he'll see that overregulation — nearly 100 regulations and counting on the oil and natural gas industry — hinders rather than advances what he hopes to be one of his administration's defining legacies, environmental improvement.”
The goal, he said, is to maintain the momentum of the last few years and to continue the national energy policy discussion while avoiding partisan conflict.
API is a 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 650 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline and marine businesses, and service and supply firms. For more information, go to www.api.org.