API rebuts speculation about the characteristics of Bakken crude

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Jul 23, 2014, 12:46 ET

WASHINGTON, July 23, 2014 /PRNewswire-USNewswire/ -- The American Petroleum Institute today rebutted speculation by the Department of Transportation about the characteristics of crude oil from the Bakken.

"The best science and data do not support recent speculation that crude oil from the Bakken presents greater than normal transportation risks," said API President and CEO Jack Gerard. "Multiple studies have shown that Bakken crude is similar to other crudes.

"DOT needs to get this right and make sure that its regulations are grounded in facts and sound science, not speculation."

API represents all segments of America's oil and natural gas industry. Its more than 600 members produce, process, and distribute most of the nation's energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.

SOURCE American Petroleum Institute