The American Petroleum Institute (API) issued the following statement from President and CEO Mike Sommers following passage of the House reconciliation bill.
“At a time when energy prices have risen alongside broader economy-wide inflation, the House reconciliation bill would only exacerbate the challenges facing Americans. This bill taxes American energy, restricts access to our own resources and advances the same type of ‘import-more-oil’ strategy that this administration has been promoting as a solution. We urge the Senate to reject these misguided policies and focus on climate solutions that both reduce emissions and ensure Americans have access to the affordable and reliable energy this sector delivers every day.”
API represents all segments of America’s natural gas and oil industry, which supports more than 11 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. Its nearly 600 members produce, process and distribute the majority of the nation’s energy, and participate in API Energy Excellence, which is accelerating environmental and safety progress by fostering new technologies and transparent reporting. API was formed in 1919 as a standards-setting organization and has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.