(Editor's note: While understanding and correcting the causes of the Gulf of Mexico accident are essential, the American Petroleum Institute (API) opposes lengthy or open-ended delay of offshore oil and natural gas development, as proposed today by the administration. Offshore development is crucial to creating and saving jobs and strengthening U.S. energy security.
API's President and CEO Jack Gerard offered the following response to the president's announcement.)
"We understand the concerns many people have about offshore drilling in the wake of this incident, and the frustration many feel toward oil companies. But this issue is much larger than the oil industry, since access to affordable energy impacts every sector of our economy, every state in our nation and every American family. Fu... more »