API to President Obama: Our Industry can Create Thousands of American Jobs This Year

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Jul 08, 2011, 02:42 ET

WASHINGTON, July 8, 2011 /PRNewswire-USNewswire/ -- American Petroleum Institute President and CEO Jack Gerard made the following statement on President Obama's response to disappointing job numbers and ongoing discussions towards agreement on the debt ceiling:

"If the President wants to put thousands of Americans to work 'right now,' as he said today, we urge him to speed up oil and gas permitting in the Gulf of Mexico, Alaska and elsewhere, and approve the Keystone XL pipeline project. That could put thousands of Americans in jobs this year. Greater access to America's oil and natural gas now off limits could multiply these job numbers over time while generating hundreds of billions of dollars in additional revenue for our government.

"We're ready to invest to create jobs, support economic growth, increase government revenues, bolster retirement benefits, and enhance domestic energy security. But we can only do this if the government gives us a green light. We urge the president and Congress to recognize our industry as a powerful part of the solution as they seek a deal on the debt limit and the overall budget."

On Monday, API and the National Ocean Industries Association will release a jointly commissioned study estimating the potential jobs, economic growth and revenue benefits of a balanced regulatory approach to offshore Gulf of Mexico oil and natural gas development. Please join us in discussing the results and implications for energy policy. Advisory with dial in information is below.

API represents more than 470 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America's energy, supports more than 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers almost $86 million in revenue to our government every day, and, since 2000, has invested nearly $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

API and NOIA to release study on offshore Gulf of Mexico economic impacts

Conference call with reporters on Monday, July 11, 2011, at 11:00 a.m. ET

Study is next step in API's "Keys to the Future" campaign

A new study by Quest Offshore Resources, Inc. estimates the potential jobs, economic growth and revenue benefits of a balanced regulatory approach to offshore Gulf of Mexico oil and natural gas development. Please join the American Petroleum Institute (API) and the National Ocean Industries Association (NOIA), which jointly commissioned the study, to discuss the results and the implications for energy policy.

Monday's report begins the next phase of API's "Keys to the Future" campaign to help educate lawmakers and the public on the important role that a healthy oil and natural gas industry means for jobs, economic growth, government revenue, retirement benefits, and energy security.

Click here for a letter sent to Senators and House members with more information on the campaign.

There will also be an opportunity for reporters to ask questions.

What: Conference call on QUEST study on Gulf of Mexico permit delays

Who: Jack Gerard, API president and CEO
Randall Luthi, NOIA president

When: Monday, July 11, 2011
11:00 a.m. ET

Phone: (800) 374-2418

Conference ID: 818 62 705

Please RSVP by replying to [email protected] or by calling API media relations at 202-682-8114.

This call is open to credentialed media only.

Contact Carlton Carroll, +1-202-682-8114, [email protected]

SOURCE American Petroleum Institute