API: Senate energy bill benefits consumers and strengthens America’s energy security
OREANDA-NEWS. April 20, 2016. The American Petroleum Institute welcomed Senate passage of S. 2012, the Energy Policy Modernization Act. The bill streamlines the natural gas export permit application process, ensures natural gas pipelines are permitted more efficiently - which could lower prices for consumers in places like New England - and promotes job diversity in the energy industry.
“Allowing American natural gas to compete in the world marketplace will benefit consumers, enhance our national security interests, and bolster our global allies’ independence from nations that would use their energy resources as a diplomatic and economic weapon,” said API President and CEO Jack Gerard. “Expanding our export opportunities will also create jobs, strengthen our economy, and our energy security. And independent reports show exporting U.S. natural gas will reduce global greenhouse gas emissions.
“As the number one natural gas producer in the world, we also need to invest in reliable infrastructure. Setting realistic deadlines for approving pipelines, which are one of the safest and most efficient modes to transport product, will enhance the delivery of affordable energy to consumers. It could also reduce the cost of energy in New England where infrastructure limitations have forced consumers paying about 53 percent more for electricity than the rest of the nation last year.
“In addition, our energy renaissance has created unprecedented opportunities for Americans of all backgrounds. With education and training, more than half a million new jobs in the industry are projected to be filled by minorities and women over the next decade and a half. These are careers that will pay well above the national average,” said Gerard. “Expanding education and workforce training programs will help ensure competitive access to these great job opportunities in underrepresented communities.”
API thanked the Senate for approving a bill that will enhance America’s energy future. We now urge the Senate and the House to work together and move quickly to get this legislation to the president’s desk for signature.
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 650 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 30 million Americans.