American Petroleum Institute (API) President and CEO Jack
Gerard said the Department of Interior decision to remove the Arctic from offshore
lease sales for the next five years is a shortsighted decision that could
weaken U.S. energy security.
“(The) announcement is a shortsighted decision that
ignores America’s long-term energy security needs,” Gerard said. “Our national
energy security depends on our ability to produce oil and natural gas here in
the U.S., and this decision could very well increase the cost of energy for
American consumers and close the door on creating new jobs and new investments
for years. We are hopeful the incoming administration will reverse this
decision – consistent with the will of American voters."
According to Gerard, removing the Arctic from the five-year
plan for offshore lease sales puts the U.S. at a competitive disadvantage with
Russia and stands to push the U.S. behind in terms of research and exploration
in one of the largest remaining resources for conventional oil and natural gas
production.
“The majority of American voters support increased
production of U.S. oil and natural gas, yet this administration made the
detrimental decision to take an important opportunity for future production off
the table, along with hundreds of thousands of potential jobs and tens of
billions of dollars in government revenue,” Gerard said. “We need government to
embrace the energy renaissance instead of continuing to drag its feet on
developing our domestic resources. A forward-looking energy policy can further
help American consumers and business, boost the economy, and strengthen our
national security.”
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