The American Petroleum Institute (API) today announced its support for the Interior Department’s new proposal for a five-year offshore oil and natural gas leasing plan to allow greater access to energy resources in the U.S. Outer Continental Shelf, putting the U.S. on the right track towards increased energy production, economic growth, and job creation.
“This new offshore leasing plan is an important step towards harnessing our nation’s energy potential for the benefit of American energy consumers,” said API Upstream Director Erik Milito. “The ability to safely and responsibly access and explore our resources in the Arctic, Atlantic, Pacific and the Eastern Gulf of Mexico is a critical part of advancing the long-term energy security of the U.S. It will also encourage economic growth, spur manufacturing and investment, create thousands of additional U.S. jobs, and strengthen our national security.”
A study earlier this year showed that the natural gas and oil industry supported 10.3 million U.S. jobs and added $1.3 trillion to the nation’s economy in 2015.
“The oil and natural gas industry has the experience and advanced technology to develop the nation’s offshore energy safely,” added Milito. “We are continuously developing and improving safety standards, programs, new technologies, and best practices to protect our workers, the environment and marine life. And decades of experience have shown that offshore operations safely coexist with military activity, the commercial and recreational fishing industries, and coastal tourism.”
Since 2010, more than 100 exploration and production industry standards have been created or strengthened, including standards for safety and environmental management, well design, blowout prevention and spill response.