API: Interior should open new areas to offshore O&G development

The Interior Department should open new areas to offshore oil and natural gas development as it writes the schedule of lease sales for 2017 to 2022, API Senior Policy Advisor Andy Radford told reporters on a press conference call.

“The United States has a long and successful history of producing oil and natural gas offshore, but government restrictions keep 87 percent of federal offshore waters locked away.

“Our energy renaissance has put millions of Americans to work, generated billions of dollars in revenue for the government, and put downward pressure on prices for consumers.

“But earlier this month, the International Energy Agency reported that we could fall behind OPEC countries if U.S. production plateaus, which IEA says could add $15 per barrel to the price of oil.

“Opening new areas like the Atlantic and eastern Gulf of Mexico would send a signal to the markets and to the world that America’s oil and natural gas renaissance is here to stay.

“America’s long-term energy security can only be ensured with a lasting commitment to expanding oil and natural gas development both on and offshore.”

API represents all segments of America’s oil and natural gas industry. Its more than 600 members produce, process, and distribute most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.

 

Press Release, June 16, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 1 2 3

19th Annual Arctic Oil & Gas Symposium

CI Energy’s 19th Annual Arctic Oil & Gas Symposium has brought together hundreds…

read more >

Egypt Petroleum Show

This event will feature 500+ regional & international exhibiting companies from over 35 countries…

read more >

INTERNATIONAL PETROLEUM WEEK 2019

International Petroleum (IP) Week is a renowned and respected fixture in the annual calendar…

read more >

Fuel Cell Expo 2019

FC EXPO is world’s largest show for hydrogen & fuel cell…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply