API applauds Trump's recent executive order on energy

The American Petroleum Institute president and CEO says he welcomes President Donald Trump’s executive order on energy independence as a step forward to advance an American energy renaissance.

“Smart, common-sense and science-based guidance and regulations will help our nation’s energy renaissance continue to provide benefits for American consumers, workers and the environment,” Jack Gerard said. He added that the move would help create more competitiveness by American businesses.  

Gerard also said that it was an acknowledgement that the energy industry had a role to play in accomplishing national economic and security goals.

“We look forward to working with the Trump administration and Congress on forward-looking energy policies that will help ensure the United States continues leading the world in the production and refining of oil and natural gas, and in the reduction of carbon emissions,” he said.

API has over 625 members that consist of integrated companies, exploration, production, refining, marketing, pipeline and marine businesses as well as service and supply firms. The trade association is the only national organization that covers all areas of the oil and natural gas industry, an industry that API says provides 9.8 million jobs and contributes 8 percent of the U.S. economy.