American Petroleum Institute President and CEO Jack Gerard applauded the introduction of the Offshore Petroleum Expansion Now Act of 2012 (OPEN Act) which promises to expand responsible offshore development, make the U.S. more energy secure and create jobs.
“We are an energy-rich nation that can and should be doing much more to secure our energy future. The OPEN Act shows that bipartisan leadership is possible when something as important as America’s energy future is concerned.
“Government projections tell us that oil and natural gas will supply almost 60 percent of our energy in 2035. The current five-year plan proposed by the Department of the Interior is insufficient, ensuring that we will fall further behind what we really should be doing to meet this need.
“Forward-thinking policies will expand development to take full advantage of our domestic resources so that we are prepared to secure at home much more of the energy supplies future generations of Americans will need.”
API thanked the bipartisan leadership and sponsors in the Senate, including U.S. Senator Lisa Murkowski, R-Alaska, who introduced the legislation, Sen. Mary Landrieu, D-La., Sen. Jim Webb, D-Va., Sen. John Hoeven, R-N.D., Sen. Jim Inhofe, R-Okla., Sen. Mark Warner, D-Va., Sen. Mark Begich, D-Alaska, and Sen. John Barrasso, R-Wyo.
API represents more than 500 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
[mappress] Press Release, July 27, 2012