January 12, 2016
By:
Walter G. Wright
Category:
Arkansas Environmental, Energy, and Water Law
Arkansas Environmental, Energy, and Water Law
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The American Petroleum Institute (“API”) published President and Chief Executive Officer Jack Gerard’s 2016 State of American Energy Address (“Remarks”).
The Remarks were delivered on January 5th.
API is a national trade association headquartered in Washington, D.C. that represents all aspects of the United States oil and natural gas industry. The trade association members include producers, refiners, suppliers, pipeline operators and marine transporters.
The Arkansas Petroleum Council lead by Executive Director Tom Parker is a division of API.
Some of the points addressed in Mr. Gerard’s Remarks include:
- The United States is a transitioning from energy scarcity and dependence into a global energy leader (a development unforeseen a decade ago)
- Energy policy decisions today will determine
- Whether the United States remains a positive and stabilizing force in the world’s energy market
- Whether consumers continue to count on reliable, affordable and abundant domestically produced energy for generations
- The United States “energy renaissance” has created an unprecedented surplus in energy significantly lowering energy costs/lifting the economy
- The United States oil and natural gas industries support approximately 1.2 trillion in the country’s gross domestic product
- The United States success in global energy production/carbon reduction leadership is rooted in the country’s federal system (allowing the states to be an active and semi-autonomous actor in determining energy resource development)
- United States greenhouse gas emissions are lower as a result of greater use of natural gas
- Pro-development energy policies could significantly increase local, state and federal government revenue over the next 20 years
- The Energy Information Administration estimates fossil fuels will account for 80% of the United States energy consumption through 2014 (best-case scenario for alternative fuel use is 22%)
- Lifting of the 40-year ban on crude oil exports is a forward-looking energy policy and beneficial to the United States economy
- The Renewable Fuel Standard should be amended because of limited demand for high ethanol fuels and potential for raising energy costs
- The Clean Power Plan picks winners and losers in the energy market (ignoring market conditions/consumer preference/economy reality)
- Natural gas will continue to provide clean, reliable fuel, and affordable energy with or without the Clean Power Plan
- The rejection of the Keystone XL pipeline ignored various benefits
- Lower crude oil production on federal lands is a function of political ideology as opposed to geology
Click here to download a copy of the Remarks.
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