API welcomed the Interior Department’s new proposal for a five-year offshore oil and natural gas leasing plan to allow greater access to energy resources in the U.S. Outer Continental Shelf, putting the U.S. on the right track towards increased energy production, economic growth, and job creation.
“This new offshore leasing plan is an important step towards harnessing our nation’s energy potential for the benefit of American energy consumers,” said API Upstream Director Erik Milito.“The ability to safely and responsibly access and explore our resources in the Arctic, Atlantic, Pacific and the Eastern Gulf of Mexico is a critical part of advancing the long-term energy security of the U.S. It will also encourage economic growth, spur manufacturing and investment, create thousands of additional U.S. jobs, and strengthen our national security.”
A study earlier this year showed that the natural gas and oil industry supported 10.3 million U.S. jobs and added $1.3T to the nation’s economy in 2015.
“The oil and natural gas industry has the experience and advanced technology to develop the nation’s offshore energy safely. We are continuously developing and improving safety standards, programs, new technologies, and best practices to protect our workers, the environment and marine life. And decades of experience have shown that offshore operations safely coexist with military activity, the commercial and recreational fishing industries, and coastal tourism.”
Since 2010, more than 100 exploration and production industry standards were created or strengthened, including standards for safety and environmental management, well design, blowout prevention and spill response. The Bureau of Safety and Environmental Enforcement (BSEE) references 96 API standards in its offshore regulations.
“Eighty percent of U.S. voters support increased domestic oil and natural gas production,” said Milito. “The administration’s new offshore leasing plan will give our nation the ability to access our vital energy resources to help meet growing domestic and global demand while helping to supply affordable energy for consumers, manufacturers, and businesses.”
To learn more about America’s offshore energy potential, visit americasoffshoreenergy.com.
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 40 million Americans.
SOURCE: American Petroleum Institute