API applauds House move on Dodd-Frank Act

The U.S. House of Representatives this month failed to approve the Securities and Exchange Commission’s (SEC) rule enforcing Section 1504 of the Dodd-Frank Act. 
Encouraging and applauding this effort made by the House was the grassroots organization API.
“Today’s House vote is a necessary step by Congress to establish sensible regulations that balance increasing transparency without diminishing our industry’s competitive advantage,” API Director Stephen Comstock said before thanking representatives for not “harming American workers” and looking out for the future.
“We look forward to continuing to work with the new Congress and administration on policies that will create jobs and help keep energy costs low for American consumers and businesses,” he said.
This ruling is an important aspect of political issue for American companies, especially to the oil and gas sectors.
API said it is proud to be the “only national trade association representing all facets of the oil and natural gas industry.” Specifically, it represents the oil and gas industry in its entirety and are highly involved in a percentage of the U.S. economy.