Jack Gerard, API President and CEO has said that industry can help achieve the Obama administration’s goal of creating a modern infrastructure system for the US. Gerard said, “we welcome the administration’s call to action on infrastructure, now we need them to act, our industry is ready to go to work. Essential infrastructure improvements in just the oil and natural gas area could, over the next decade, attract 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.
“American is the number one producer of natural gas in the world and we’ll soon be number on one in oil, but we cannot deliver these products to consumers without a modern infrastructure system.
“We need pipelines like Keystone XL to fully realise our energy potential. Pipelines are one of the safest modes for transporting product and we need more of them. Keystone is but one example of a pipeline that, if approved, could benefit consumers by increasing the among to fuel to the market place while stimulating job and economic growth, and all without costing taxpayers a dime.”
Edited from press release by Claira Lloyd