Posted on 03/15/2012 6:28:51 PM PDT by Advocatus Sancti Sepulchri
WASHINGTON, March 13, 2012 – In remarks to reporters this afternoon, API’s Group Director for Upstream and Industry Operations Erik Milito said that administration policies were obstructing U.S. oil and natural gas development and contributing to today’s higher gasoline prices“
“Gasoline prices are higher today at least in part because government has neglected to pay sufficient attention to the importance of producing more of our own oil and natural gas. Adding supplies to markets is critical to keeping downward pressure on prices. And government policy has prevented and continues to prevent that.
“The administration says its policies have supported more development and that oi production is rising, but most of today’s production increases relate to projects begun before it came into office as well as to what is happening on state and private ands. Moreover, from 2009 to 2011, production from federal lands and federa waters combined declined significantly for both oil and natural gas.
“The point is we could be doing much better, and we have only to look at administration policy decisions to confirm this“The administration has been restricting where oil and natural gas development may occur, leasing less often, shortening lease terms, going slow on permit approvals and increasing or threatening to increase industry’s development costs through higher taxes, higher royalty rates, higher minimum lease bids, and ineffective regulations and regulatory processes.â€
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.
Oh My what a bunch of racists.... How dare they question this administrations talking points on oil production, who do they think they are anyway, what do they know about drilling for oil in the U.S.?
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