By: Inspenet, October 21, 2022
Mike Sommers, president and CEO of the American Petroleum Institute (API), issued the following statement this week in response to President Biden’s comments on gasoline prices:
“Growing energy demand and constrained supply, coupled with geopolitical instability and faulty political decisions, have pushed up fuel prices. At a time when American energy can be a stabilizing force at home and abroad, we urge caution in continuing to rely on short-term efforts that are not a substitute for strong long-term policies that enable American energy leadership.
Instead, the administration should focus on addressing the fundamental economic and security challenges we face by spurring greater investment in American energy, infrastructure, and markets that enable American consumers to benefit from America’s reliable energy resources.”
API represents all segments of the US oil and natural gas industry, which supports more than 11 million jobs in the country and is supported by a growing grassroots movement of millions of Americans. Its 600 members produce, process, and distribute most of the nation’s energy and participate in API Energy Excellence®, which is accelerating safety and environmental progress by fostering new technologies and transparent reporting. API was founded in 1919 as a standards-setting organization and has developed more than 800 standards to improve safety, efficiency, and operational and environmental sustainability.
This api.org portal material has been edited for clarity, style, and length.
Source : https://www.api.org/news-policy-and-issues/news/2022/10/19/biden-remarks-on-gasoline-prices
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