API urges House and Senate action on crude exports
WASHINGTON, July 29, 2015 /PRNewswire-USNewswire/ -- API applauded legislative efforts now underway to lift outdated trade restrictions on U.S. oil during a conference call today with reporters.
"At this moment, U.S. diplomats are paving the way for Iran to reassert itself as a major world energy supplier," said API President and CEO Jack Gerard. "American voters understand that lifting the ban on Iranian oil resources, while maintaining a ban on U.S. companies, is illogical and restricts our own competitiveness. It doesn't make sense. U.S. energy producers should not be placed at a competitive disadvantage to anyone, whether it is Russia, Iran or any oil-producing country."
"These votes will play an important role in determining whether America remains a global energy superpower for decades to come," added Gerard. "If we act now to harness this once-in-generation opportunity, America is poised to add billions to the domestic economy, creating jobs up and down the energy supply chain."
"Bipartisan momentum is stronger than ever, and we urge members of the House and Senate to schedule committee and floor votes on this issue as soon as possible. Now is the time to send a message to allies around the world that America is ready to lead."
Read the full text of Gerard's opening remarks here.
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 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 25 million Americans.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/api-urges-house-and-senate-action-on-crude-exports-300120603.html
SOURCE American Petroleum Institute
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- The Puerto Rico Financial Services Forum Returns: Pioneering Trends in International Banking and Insurance Centers
- BlackRock® Canada Announces Final April Cash Distributions for the iShares® Premium Money Market ETF
- Labcorp Announces Winning Bid for Select Assets of Invitae
Create E-mail Alert Related Categories
Press ReleasesRelated Entities
Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!