API Chief Offers Support for Offshore Drilling Expansion
American Petroleum Institute President and CEO Jack Gerard issued the following statement on the Interior Department's Five-Year Plan:
"The announcement by President Obama and Secretary Salazar is a positive development. We look forward to reviewing the details of the proposal, and we stand ready to work with them to make this a reality. We appreciate the administration's recognition of the importance of developing our nation's oil and natural gas resources to create jobs, generate revenues and fuel our nation's economy.
"Exploring for and developing our nation's offshore resources could help generate more than a trillion dollars in revenues and create thousands of jobs to add to the already 9.2 million jobs supported by today's oil and natural gas industry.
"As we move forward, we hope that consideration can be given to other resource-rich regions, such as the Destin Dome area of the Eastern Gulf and areas off the Pacific Coast and Alaska. We also need to ensure that the permitting processes are handled in an expeditious way. The oil and natural gas industry has a proven track record of safe oil and natural gas development and the majority of the American people recognize this by supporting greater offshore development for the benefit of their communities, their states and their nation."
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