IEA Warning Underscores Need to Develop US O&G Resources
The American Petroleum Institute has issued the following statement regarding the International Energy Agency report:
"The report issued today by the International Energy Agency (IEA) underscores the pressing need to do all we can in the United States to develop our own oil and natural gas resources. The new administration and Congress should not re-impose the ban on U.S. oil and natural gas development or otherwise set restrictions that would keep off-limits some of our nation's most promising resources.
The IEA warned in its World Energy Outlook that some 30 million barrels per day of new global crude oil capacity is needed by 2015 or the world runs the risk of a 'supply crunch that could choke economic recovery.'
The U.S. oil and natural gas industry is ready and able to put our skilled employees and state-of-the-art technology to good use developing America's oil and natural gas resources for the benefit of consumers, strengthening our nation's economy and energy security and providing good jobs for Americans.”
- IEA: China's Crude Oil Buying Spree Looks Set To Continue (Oct 12)
- IEA Lifts Five-Year Renewables Forecast After Record 2016 (Oct 04)
- IEA Sees Strongest Global Oil-Demand Growth in Two Years (Sep 13)
Company: American Petroleum Institute (API) more info
- API Panel Member: Voluntary Methane Program Forthcoming (Oct 06)
- API: Obama Catering to Activists with Oil Tax Proposal (Feb 08)
- Industry Groups Say Proposed Flaring Rules are Costly, Unnecessary (Jan 22)