American economy and consumers benefit from government streamlining of energy infrastructure

WASHINGTON, Aug. 15, 2017 /PRNewswire-USNewswire/ -- API President and CEO Jack Gerard called President Trump's executive order to streamline energy infrastructure an important step in speeding up projects, creating jobs, and improving government efficiencies in delivering energy Americans demand.

"Ensuring we have a robust energy infrastructure system that protects the environment and keeps pace with growing production and demand is essential to helping American families and businesses have reliable access to affordable energy," said Gerard. "Whether it is powering our nation's electricity grid, delivering natural gas to heat homes and run appliances, supplying raw materials and energy to industry and manufacturing, or delivering the transportation fuels we use every day, this investment will ensure that these critical products are there when and where they are needed most."

API submitted comments in March to the Department of Commerce noting that the business community, including the oil and natural gas industry, relies upon a cost-effective regulatory system that promotes the certainty and predictability necessary to make the massive capital investments required to bring energy and other projects to the U.S. economy. API said that significant improvements could be achieved by standardizing permitting processes; improving coordination among federal and state agencies, including deadlines for permit issuance; and using a dispute resolution process to resolve interagency permitting problems.

"The business community, including the oil and natural gas industry, relies upon a cost-effective regulatory system that promotes the certainty and predictability necessary to make the massive capital investments required to bring energy and other projects to the U.S. economy," said Gerard. "We welcome the administration's action to streamline the regulatory process in developing and transporting our nation's oil and natural gas resources. It is good for our economy, consumers, and strengthening our national security."

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API's more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation's energy and are backed by a growing grassroots movement of more than 40 million Americans.

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SOURCE American Petroleum Institute