Today, American Petroleum Institute President and CEO Jack Gerard issued the following statement on API's decision to seek rehearing of a U.S. Appellate Court panel's decision remanding and vacating the Department of Interior's 2007-2012 Five-Year Outer Continental Shelf leasing plan. API on May 12 asked the court to change the remedy from "vacate and remand" to "remand." The Interior Department has sought similar relief from the court.

"The court's decision should not stand as an impediment to continued production of oil and natural gas from leases already issued in the Outer Continental Shelf and to leasing in the future under the Five-Year Program. Offshore oil and gas leasing under the program is responsible for thousands of well-paying American jobs, over $10 billion in much-needed revenue for federal, state and local governments. The nation's energy security depends upon these resources."