Washington – The American Petroleum Institute issued the following statement from Senior Vice President for Policy, Economic and Regulatory Affairs Frank Macchiarola regarding the Biden administration’s infrastructure plan.
“We support the administration’s goal of modernizing the nation’s infrastructure – including roads, bridges, rail and ports. We also welcome the administration’s efforts to address the risks of climate change by incentivizing innovation for hydrogen and CCUS as part of this infrastructure package. At the same time, this proposal misses an opportunity to take an across-the-board approach to addressing all our infrastructure needs – including on modern pipelines.
“Targeting specific industries with new taxes would only undermine the nation’s economic recovery and jeopardize good-paying jobs, including union jobs. It’s important to note that our industry receives no special tax treatment, and we will continue to advocate for a tax code that supports a level playing field for all economic sectors along with policies that sustain and grow the billions of dollars in government revenue that we help generate."
API represents all segments of America’s natural gas and oil industry, which supports more than ten million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. Our 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.