Industry outlines policies to optimize energy security.
Press Release Summary:
American Petroleum Institute expressed confidence in oil and natural gas industry's ability to ensure energy supplies for future generations. Industry trade association urged lawmakers to support policies that promote energy efficiency, investment in and adaptation of advanced energy technologies, and access to resources worldwide. US Department of Energy estimates that US will consume 28% more oil and that US oil imports will continue at about 60% through 2030.
Original Press Release:
Industry Outlines Policies to Enhance Energy Security
WASHINGTON - API today expressed confidence in the oil and natural gas industry's ability to ensure energy supplies for future generations in the face of rising global demand. The industry trade association also urged lawmakers to support policies that promote energy efficiency, investment in and early adaptation of advanced energy technologies, and access to resources both in the United States and around the world.
"America's oil and natural gas companies recognize that we have a leadership role to play in delivering energy security for our country," said Red Cavaney, API President and CEO, in remarks delivered at the National Press Club. "But all of us have a role to play in meeting this challenge - from leaders in business and government to the American people themselves."
The U.S. Department of Energy estimates that the United States will consume 28 percent more oil and that U.S. oil imports will continue at about 60 percent through 2030, Cavaney noted. He said such statistics demonstrate that while calls for "energy independence" are understandable, they are at odds with the country's need to diversify its resources.
Even with aggressive efforts to improve energy efficiency and increased reliance on alternative energy sources over next 20 years, the United States will continue to need increased access to oil and natural gas resources, both here at home and abroad, Cavaney said.
Cavaney closed by urging all parties - the American people, their representatives in Washington and in state capitals and U.S. industry - to work together to increase efficiency, develop new energy technologies and expand on our nation's diversity of resources.
"Together, we will ensure that we deliver America's energy security," he said.
