Policy at a Glance: ACCESS AND DEVELOPMENT

  • 87% of offshore acreage under federal control remains off limits to development.
  • Offshore oil and natural gas leasing could create nearly 840,000 U.S. jobs and raise $200 billion in revenue for the government by 2035.
  • Included in that is over $50 billion and 280,000 jobs along the Atlantic coast, in Florida, Georgia, North Carolina, South Carolina and Virginia.
  • New restrictions offshore Alaska and a rejection of billions of barrels of oil from the coastal plain of ANWR show a lack of commitment to ensuring America’s position as a world leader in energy.
  • Duplicative new regulations on industry operations, and the government’s refusal to even consider leasing in the Eastern Gulf of Mexico and the Pacific, are tying America’s hands against a future of affordable and reliable energy.

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Policy at a Glance: ENERGY INFRASTRUCTURE

  • Sustaining and expanding America’s energy infrastructure is vital to a dependable supply chain that provides uninterrupted energy, which is central to our economic growth and national security.
  • Investing in our nation’s infrastructure means that products from all industries move more efficiently within our nation, which has historically lowered costs to consumers and gives our businesses and manufacturers a competitive edge in the global market.
  • Taxpayers will benefit from private investments in infrastructure. Infrastructure improvements by the oil and natural gas industry could, over the next decade:
    • Encourage as much as $1.15 trillion in new private capital investment;
    • Support 1.15 million new jobs, and
    • Add $120 billion on average per year to our nation’s GDP.

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Policy at a Glance: RENEWABLE FUEL STANDARD

  • The RFS is based on predictions regarding the supply and demand of gasoline that are disconnected from reality.
  • U.S. gasoline demand has dropped while domestic supply has increased due to the shale and natural gas revolution in North America.
  • Cellulosic technologies have not developed as quickly as expected.
  • The EPA rushed through approval of an up to 15% ethanol blend (E15) without adequate testing, leading to engine compatibility problems with E15, potentially voiding car warranties, and adding significant infrastructure and cost challenges.
  • Approaching the ethanol blend wall, the point at which ethanol mandates force more ethanol into the nation’s fuel supply than is safe for most users, could lead to fuel supply disruptions that ripple adversely through the economy, decreasing GDP and reducing worker take-home pay, according to a NERA economic analysis and CBO report.
  • The original purpose of the RFS – to reduce oil imports – has been achieved through rising U.S. oil production. From 2008–2012, net imports fell by more than 1.3 million bbl/d while domestic oil production has increased by nearly 1.5 million bbl/d.

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VOTE 4 ENERGY

Vote4Energy.org is a voter education project of the American Petroleum Institute (API). Vote4Energy does not endorse or support any specific candidate or party, but rather aims to provide voters with relevant information to help them better evaluate public policies and candidates through the prism of American energy.

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TWITTER FEED

@EnergyTomorrow Industry, green groups and members of Congress are acknowledging RFS’ failures https://t.co/xj5x5pobf0 pic.twitter.com/tkl4s6jdAI

@EnergyTomorrow Failing to upgrade local infrastructure could saddle New England families with $5.4 bil in higher utilities by 2020… https://t.co/eFjRD6JxXN

@EnergyTomorrow We need energy from all sources. Does your candidate think an all of the above energy policy matters?… https://t.co/ANQZKk8HcV

@EnergyTomorrow .@@CanalCapeCod: Six in 10 Massachusetts voters want more natural gas #infrastructure https://t.co/Vh1eQ7Jpv9 pic.twitter.com/ZDRnvxzrB3

Policy at a Glance: LNG EXPORTS

  • Consumers are among the first to benefit from free trade, and liquefied natural gas – or LNG – is no exception. The export of LNG is one of the most promising economic opportunities of the shale revolution.
  • These exports will increase our national security while significantly reducing our trade deficit.
  • LNG exports are projected to increase government revenues, grow the economy, and support hundreds of thousands of U.S. jobs in engineering, manufacturing, construction, and facility operations.
  • America is in a global race to build LNG infrastructure and secure a competitive position in the international market. Nations that act quickly to attract these investments will reap the economic rewards.
  • LNG exports could contribute as much as $10 to $31 billion per state to the economies of natural gas-producing states, such as Texas, Louisiana, and Pennsylvania.
  • Non-natural-gas-producing states will also benefit, partly due to the boost in demand for steel, cement, equipment, and other goods. States with a large manufacturing base could see economic gains as high as $2.6 to $5 billion per state.

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Policy at a Glance: OZONE NAAQS

  • Upcoming EPA regulations of ozone could shut down business expansion and new jobs where 94% of Americans live, without providing any significant public health or environmental benefit.
  • Strict new standards could force communities to shut down business activity in a futile attempt to force ozone levels below naturally occurring background levels.
  • Air quality continues to improve under the existing standards. The health data being used to justify tightening the standard is not compelling, and EPA and the states have not even begun to implement the stringent 2008 ozone standard.
  • These could be the costliest EPA regulations ever, reducing U.S. GDP by up to $270 billion per year, according to a NERA economic analysis.
  • Stricter standards are not justified from a health perspective and are not needed to continue air quality progress.
  • Retaining the existing standards of 75 parts per billion is the right policy choice.

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Policy at a Glance: CRUDE OIL EXPORTS

  • Consumers are among the first to benefit from free trade, and crude oil is no exception.
  • Gasoline costs are tied to a global market; additional exports could help increase supplies, put downward pressure on prices at the pump, and support American workers.
  • Exports will help strengthen our energy security as access to foreign customers could drive significant investment in U.S. production and change the security environment around the world.
  • If current restrictions on crude exports were lifted:
    • The cost of gasoline, heating oil and diesel fuel is projected to fall, saving American consumers up to $5.8 billion per year, on average, between 2015 and 2035.
    • In 2020 the U.S. economy could gain up to 300,000 additional jobs and America’s trade deficit could fall by $22 billion.
    • U.S. federal, state, and local government revenues could rise by as much as $13.5 billion in 2020.

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From the American Petroleum Institute: LATEST NEWS

Moving point of obligation does not fix the broken RFS

WASHINGTON, September 13, 2016 – Today in a press call with reporters API Downstream Group Director Frank Macchiarola reminded policymakers that the Renewable Fuel Standard mandate needs to be repealed or significantly reformed, and any efforts to tinker with the RFS at the margins will not work and will continue to push consumers to use high ethanol blends that they don’t want and could harm their car engines.




API releases video to bolster emergency preparedness in crude by rail shipments

WASHINGTON, August 25, 2016 – Today, API furthered its commitment to safety as a core value by releasing a new video aimed at helping first responders bolster emergency preparedness should an incident occur involving crude oil moved by rail. 

API launches new RFS advocacy campaign focused on consumers

WASHINGTON, August 9, 2016 – Today API launched a new multi-faceted Renewable Fuel Standard advocacy campaign that includes TV and online advertising. The campaign will focus on how higher ethanol mandates can hurt consumers and threaten to reverse America’s energy renaissance which has made the United States the number one producer of oil and natural gas in the world.

Michael Tadeo and Brooke Sammon join API media team

WASHINGTON, August 3, 2016 –The American Petroleum Institute (API) today welcomed Michael Tadeo and Brooke Sammon to its communications team as spokespersons.

API files suit against EPA’s final oil and natural gas sector rule

WASHINGTON, August 3, 2016 – API filed a lawsuit Tuesday with the D.C. Circuit Court of Appeals challenging the Environmental Protection Agency’s (EPA) final oil and natural gas sector rule calling for emission standards for new, reconstructed, and modified sources. Specifically, API challenges the EPA's failure to adhere to the specific limitations provided by the Clean Air Act on the way the agency can develop regulations.

API: U.S. energy model shows more oil and natural gas production creates jobs, benefits consumers, reduces emissions

PHILADELPHIA, July 28, 2016 – API President and CEO Jack Gerard highlighted the benefits that come from increased oil and natural gas production after Democratic Presidential Nominee Hillary Clinton delivered her remarks at the party’s convention today.

Energy Tomorrow is a project of the American Petroleum Institute – the only national trade association that represents all aspects of America’s oil and natural gas industry – speaking for the industry to the public, Congress and the Executive Branch, state governments and the media.