Offshore U.S. oil and natural gas drilling has broad support, from voting consumers to Congress, but the Obama administration’s new policy is not in line with this enthusiasm, API President and CEO Jack Gerard said.
The administration recently reacted to the loud disapproval of environmentalists and communities along the Atlantic coast, who said offshore drilling could harm marine life and tourism, and is advancing a policy to shut down the exploration and development of new drilling locations offshore.
Gerard said this policy shift weakens the nation on all fronts.
“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,” Gerard said. "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."
Gerard said the move puts future generations at a disadvantage, while depriving Americans today of new job opportunities.
“This decision stunts the safe and responsible path to securing the domestic energy supplies future generations of Americans will need, Gerard said. "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.”
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