API: US Governors Support Energy Development in Atlantic Shelf

API President and CEO Jack Gerard welcomed the release of a letter from the governors of North Carolina, South Carolina and Virginia urging Interior Secretary nominee Sally Jewell to support energy development in the Atlantic Outer Continental Shelf.

“I commend the governors for their vision and leadership in recognizing this game-changing opportunity to produce more American energy,” said Gerard. “Eighty-seven percent of federally-controlled offshore areas are off-limits to energy production. Unlocking the resources off the Atlantic Coast could create 140,000 jobs, generate much-needed revenue for the government, and fuel major investments in state and local economies. We have an opportunity to lead the world on energy, and through safe and responsible development of our own oil and natural gas resources we can continue our path as a global energy superpower.

“Government data about the resources off the coast of the Atlantic Ocean is more than thirty years old and out of date,” Gerard continued. “It would be irresponsible for our government leaders not to allow exploration and development utilizing the latest technologies to learn exactly how much energy we have.”

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $86 million a day in revenue to the government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

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Press Release, February 15, 2013