API claims President Obama’s decision will cost America jobs, business opportunities, and tax revenue
WASHINGTON – API CEO Jack Gerard says the Administration’s offshore oil and natural gas policy is inconsistent with the will of American voters, governors and members of Congress who overwhelmingly support offshore oil and natural gas exploration and development.
“The decision appeases extremists who seek to stop oil and natural gas production which would increase the cost of energy for American consumers and close the door for years to creating new jobs, new investments and boosting energy security,” said Gerard.
The Obama administration said Tuesday it will bar oil drilling in the Atlantic Ocean, a move cheered by environmentalists and consistent with the president’s aggressive steps to deal with climate change. You can find that article here.
“President Obama has taken a giant step for our oceans, for coastal economies and for mitigating climate change,” said Jacqueline Savitz, vice-president of Oceana, an environmental group. “This is a victory for people over politics and shows the importance of old-fashioned grassroots organizing.”
Gerard says the reversal on offshore drilling policy will only bring more harm to the American economy.
“This is not how you harness America’s economic and diplomatic potential. While benefiting from energy policy choices made more than a decade ago, this inconsistent policy leads to unraveling the nation’s ability to be a global energy leader and has left the future of American energy and national security vulnerable for the geopolitical challenges that lie ahead,” he said.
“This decision stunts the safe and responsible path to securing the domestic energy supplies future generations of Americans will need. This also wipes out an opportunity to create scores of additional new jobs for Americans along the Atlantic coast and nationwide, while also erasing millions more in revenue to the government. Expanding offshore development is a key part of that equation.”