Offshore development can grow America’s energy future – API

“We’ve seen the benefits of our U.S. energy renaissance. U.S. consumers see it at the gasoline pump and in their home energy bills.”

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API Director of Upstream and Industry Operations, Erik Milito

WASHINGTON – Allowing more offshore oil and natural gas development is one of the best ways policymakers can grow the economy, strengthen our energy security and raise more revenue for competing priorities – from education to infrastructure and conservation, according to Erik Milito, API Director of upstream and industry operations.

“This is American energy security, American jobs, U.S. government revenue and American GDP tied up by political red tape,” said Milito.

“This is a once in a generation opportunity, stuck, off limits to future generations as it waits for forward-looking energy policy.

A petition signed by more than 186,000 concerned citizens from around the country, but mostly from coastal states, is being delivered to Interior Secretary Sally Jewell’s office.

“More and more Americans will continue to write in support as the discussion continues. More than 500,000 energy voters submitted comments during the previous comment period,” said Milito.

“We’ve seen the benefits of our U.S. energy renaissance. U.S. consumers see it at the gasoline pump and in their home energy bills. Americans read about the positive geopolitical impacts on a daily basis.”

Melito says offshore drilling is a big opportunity if the U.S. is to continue its success over the past decade of American energy leadership and the time to get it right on energy policy is now.

“Keeping federal offshore acreage off limits to development is not in America’s interests. The revenue generated by offshore oil and natural gas production can help state and local governments afford to develop or upgrade tourist attractions, infrastructure and beach projects,” he said.

“A revenue sharing agreement like the one in effect for states bordering the Gulf of Mexico should also be extended to other coastal states. Every state that hosts oil and natural gas development off its shores should get a fair share of the revenue collected by the federal government.”

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