American Petroleum Institute issued the following announcement on March 8.
API President and CEO Jack Gerard said that the administration’s action on steel tariffs is inconsistent with its vision of a strong U.S. energy and economic future.
“We are disappointed by today’s action on steel and aluminum tariffs, and believe it is inconsistent with the administration’s vision on U.S. energy policy and economic growth.
“We remain concerned that implementing tariffs on specialty steel and aluminum, which many U.S. steelmakers do not supply in the quantities and timelines needed for projects could harm America’s energy renaissance and jobs. Steel and aluminum are central to nearly every part of the U.S. energy value chain – from on and offshore development, to pipelines, refineries, and the local manufacturing facilities that support them.
“We will work with the administration for maximum flexibility and consideration in how today’s proclamation is applied to minimize the impacts to U.S. investment in infrastructure, energy development, and building new facilities for America’s future.”
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 40 million Americans.
Original source can be found here.