API says McCarthy confirmation comes at a critical moment for American energy

Source:API

API says McCarthy confirmation comes at a critical moment for American energy API President and CEO Jack Gerard congratulated Gina McCarthy on her confirmation as the next EPA administrator, but cautioned that onerous new regulations could jeopardize America’s economy and energy revolution.

“We congratulate Gina McCarthy on her confirmation as the next EPA administrator,” Gerard said. “McCarthy’s confirmation comes at a critical time as our economy is recovering and America is becoming a global leader on energy. President Obama has laid out a vision for an ‘all-of-the-above’ energy strategy, and we hope McCarthy’s leadership will align the agency’s regulations with that vision. It’s critical for American jobs, revenue for our government, and our energy security.

“President Obama says his top priority is creating American jobs, and we will continue working with EPA to make sure we are protecting the environment and lowering emissions without the burden of unnecessary new regulations.”

Gerard cited the increasingly unworkable Renewable Fuel Standard, upcoming EPA proposals for new Tier 3 regulations on gasoline that could raise manufacturing costs, first time regulations on CO2 emissions, and new ozone standards that could halt business development across the country.

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

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