API welcomes vote on energy package
The American Petroleum Institute (API) has welcomed House passage of legislation, H.R. 2, to promote American energy development, approve the Keystone XL pipeline, remove regulatory barriers to infrastructure investments, and expedite approval for exports of domestic LNG.
API Upstream Director, Erik Milito, commented: 鶹ýӳThe House energy package would remove multiple government barriers that are holding back the job-creating potential of America鶹ýӳs energy revolution.
鶹ýӳThe US is now the world鶹ýӳs top producer of natural gas and projected leader in global oil production, yet red tape and stalled permits make it harder to invest in the infrastructure that will create jobs, lower energy costs, and harness America鶹ýӳs full strength as an energy superpower.
鶹ýӳLNG exports alone are expected to create up to 450,000 new US jobs, and each new export terminal strengthens our ability to promote stability on the world stage. Yet, dozens of terminals still await final permits. At the same time, the Keystone pipeline will mark its sixth year of regulatory obstruction this week. The House has shown that it鶹ýӳs ready to fuel new economic growth by unlocking America鶹ýӳs energy potential, and we urge Senate leaders to follow suit.鶹ýӳ
Adapted from press release by
Read the article online at: /business-news/22092014/house-passes-hr2-energy-legislation-1290/
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