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'Pro-Energy' Policies Will Fuel the U.S. Economy, Add Jobs, and Lower Energy Costs (National)


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Statement from Louis Finkel--API's executive vice president for government affairs--in:
MP3 format
QuickTime (MPEG-4/AAC) format
Windows Media Audio 9.2 format
(49 seconds)


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Pro-development energy policies could add 2.3 million U.S. jobs--and could add $443 billion, per year, to the U.S. economy--by 2035.  That's according to a study by Wood Mackenzie--"A Comparison of U.S. Oil and Natural Gas Policies: Pro-Development Policies vs. Proposed Regulatory Constraints"--which was released on Tuesday, June 23rd, by the American Petroleum Institute (API).  Conversely, the study found that regulatory constraints that have been proposed by the Obama administration could lead to 830,000 lost jobs--and could lead to a decrease of $133 billion, per year, in the U.S. economy.

In addition, according to the study, pro-development policies could increase cumulative local-, state-, and federal-government revenue by over $1 trillion, by 2035--while a path of regulatory constraints could, instead, lead to a cumulative decrease of $500 billion in government revenue.  For some state-specific soundbites, click here.

(FINKEL):
"WE FACE POLICY-CHOICES THAT MAY SOON DETERMINE AMERICA'S FUTURE AS AN 'ENERGY SUPERPOWER'.  FROM TRADE-BARRIERS TO OFFSHORE DEVELOPMENT, OUR NEW STUDY SHOWS THAT THESE CHOICES WILL HAVE A MAJOR IMPACT ON OUR NATION'S ENERGY-SECURITY--AND ECONOMIC-GROWTH.  PRO-GROWTH POLICIES COULD CREATE MILLIONS OF AMERICAN JOBS, GENERATE HIGHER GOVERNMENT-REVENUES, AND HELP MAKE AMERICA MORE ENERGY-SECURE.  UNFORTUNATELY, THE WRONG REGULATORY-PATH COULD DRAIN THOUSANDS OF JOBS--AND BILLIONS OF DOLLARS--FROM THE ECONOMY.  FOR CONSUMERS, PRO-DEVELOPMENT ENERGY-POLICIES ARE EXPECTED TO SAVE THE AVERAGE U-S-HOUSEHOLD 360 DOLLARS, PER YEAR--WHILE PROPOSED REGULATIONS COULD, INSTEAD, COST THE AVERAGE HOUSEHOLD 255 DOLLARS, ANNUALLY.  TO SUSTAIN THIS 'NEW ERA IN AMERICAN ENERGY', WE MUST CHOOSE SMART, PRO-DEVELOPMENT POLICIES THAT PROMOTE ENERGY-LEADERSHIP."



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