API's President Urges Administration to Support Offshore O&G Devt

American Petroleum Institute President Jack Gerard made the following comments on the closing of the Minerals Management Service's five-year plan comment period:

"In about a week's time, we will mark the one-year anniversary of the end of the moratoria for new oil and natural gas leasing in federal waters off our Atlantic and Pacific coasts. Despite the public's clear desire for more domestic energy development and the industry's years of experience operating offshore in an environmentally sensitive way, this administration repeatedly has slow-pedaled this plan which would benefit all Americans, especially in these tough economic times. New oil and gas development could create thousands of jobs, add over a trillion dollars to government coffers, strengthen America's energy security and encourage our economic recovery.

"It’s time to end the delays. The administration now has comments in hand. It knows that oil and natural gas will be integral to the nation's economy for decades to come. It must act now to ensure that America has the energy it needs today -- and in the future."