America’s revolution in oil and natural gas development can help the administration create jobs and spur economic growth, Marty Durbin, API’s executive vice president, told reporters recently. Durbin said the industry shares some of the nation’s goals.
“During the presidential campaign last year, we were encouraged by the president’s strong commitment to oil and natural gas development as an essential part of his all-of-the-above energy strategy. We, therefore, look forward to hearing in tonight’s State of the Union speech how the president views the role of the U.S. oil and natural gas industry in meeting our shared energy and economic objectives.
“Our industry is part of an energy revolution that has become an enormous asset to our nation’s recovery and economic future. Vast energy resources made available by advanced technology have opened the door to new oil and gas development that is putting more Americans to work, cutting imports, making U.S. businesses more competitive, spurring economic growth, and strengthening our energy and national security.
“And we can do much more. We can be a major driver of a better energy future – an ‘all-of-the-above’ energy future that can help lead the nation’s economy forward, achieving the goals of robust growth and full employment that the president has identified and will likely address this evening.”
API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.