American Petroleum Institute (API) President and CEO Jack Gerard recently embraced the Trump administration’s executive action to prioritize the U.S. energy industry, saying the decision will benefit both consumers and commercial entities.
"We are pleased to see this administration prioritizing responsible U.S. energy development and recognizing the benefits it will bring to American consumers and businesses,” Gerard said in a release. “Developing our abundant offshore energy resources is a critical part of a robust, forward-looking energy policy that will secure our nation’s energy future and strengthen the U.S. energy renaissance.”
Citing the eastern Gulf of Mexico as one of the most viable options open to development, Gerard indicated that exploration is important for national security – particularly with the advent of overtures from neighboring Mexico and Cuba. Because the region is relatively convenient to existing infrastructure, developing it would likely yield a quick return on investment, he said in the release.
Gerard also complimented the Trump administration for embarking on a study of how previous administrations chose to handle the use of public territories.
“The U.S. oil and natural gas industry has a long history of safe operations that have advanced the energy security of our nation and contributed significantly to our nation’s economy,” Gerard said in the release. “And 80 percent of American voters support increased domestic oil and natural gas production. We look forward to continuing our work with the administration and Congress on policies that will fully embrace our nation’s offshore and onshore energy potential to meet the energy needs of American consumers and businesses."