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US oil and gas industry working to address economic challenges

In commenting on President Obama’s 2011 budget remarks on 13th April 2011, American Petroleum Institute (API) President and CEO Jack Gerard said US oil and natural gas industry could play a major role in helping secure a strong, financially sound future for the nation:

‘The US oil and natural gas industry is working hard to help our nation address the challenges the President outlined in his 2011 budget presentation. It is investing in US energy production, providing work for millions of Americans, and delivering billions in revenue to help finance our government and pay the nation’s debt.’

‘Given what we know today, we have vast oil and natural gas reserves here in the US to help fuel our country for generations. With expanded access to America’s public lands and offshore areas, the industry could contribute even more to our future, creating hundreds of thousands of new jobs and boosting revenue for our government over the life of the resource by more than US$ 4 trillion, almost 30% of our national debt.’

Published on 15/04/2011

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