WASHINGTON, Sept. 26, 2016 /PRNewswire-USNewswire/ — API President and CEO Jack Gerard highlighted the importance of American energy ahead of the first presidential debate. Gerard’s full remarks, as prepared for delivery, from Monday’s press conference call are available on API’s website.
“When it comes to Securing America, U.S. status as the world’s leading oil and natural gas producer is a game-changer. With steady U.S. supply adding stability to world markets, the influence of less stable regions on fuel costs is diminished.
“Voters identify the economy and jobs as their top election concern, and the American energy revolution’s role in economic growth should ensure that it’s a focus in tonight’s discussion. Last year American drivers saved, on average, over $550 on transportation fuel costs, along with significant savings on home heating and electricity costs. When lower product costs and other savings are factored in, Americans households have an extra $1337 per year in the bank due to shale energy production. Those are major savings that have a real impact for family budgets.
“Our nation’s leadership on these critical issues happened largely through American ingenuity, American innovation, and free markets. If the president’s 2008 campaign message was ‘Yes, we can,’ America’s oil and natural gas industry in 2016 can say ‘Yes, we did.’ Not only is the United States the largest producer of oil and natural gas in the world, we are leading the world in reducing carbon emissions – which are at 20 year lows.
“Whatever the outcome tonight, the American people have already cast their ballot for energy. Seventy-seven percent of voters support increased production of U.S. oil and natural gas. Eighty-two percent support increased infrastructure development, which keeps affordable energy moving to homes and businesses, and could generate $1.14 trillion in capital investments and support as many as 1.15 million jobs.”
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 650 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 30 million Americans.
SOURCE American Petroleum Institute