API President and CEO Jack Gerard testified before a House Committee with oversight of energy infrastructure and discussed that enhancing our delivery systems will benefit American energy consumers, our nation’s economy and our status as a global energy superpower.
“In this era of American energy abundance we must think differently when it comes to how and where we invest in our nation’s infrastructure. Investing in our nation’s infrastructure means that products from all industries move more efficiently within our nation, which has historically lowered costs to consumers and gives our businesses and manufacturers a competitive edge in the global market.
“Given the integral part America’s infrastructure plays in job creation and economic growth domestically, and our nation’s role as an energy leader globally, our efforts must transcend political philosophies and partisan wrangling. Infrastructure investment and improvements benefit us all regardless of our political persuasion.
“We agree with what the president said just a few days ago during his State of The Union speech that 21st century businesses need 21st century infrastructure.
“Taxpayers will benefit from private investments in infrastructure. Infrastructure improvements by the oil and natural gas industry could, over the next decade, encourage as much as US$1.15 trillion in new private capital investment, support 1.15 million new jobs, and add US$120 billion on average per year to our nation’s GDP.”
Adapted from a press release by David Bizley