Press Conference: API & Western Energy Alliance Call on DOE to Open America’s LNG Export Terminals
Exports boost American GDP while keeping domestic prices low
(Washington D.C.)- Today, the American Petroleum Institute (API) and Western Energy Alliance will hold a press conference urging the Department of Energy (DOE) to move forward with Liquefied Natural Gas (LNG) exports. The press conference coincides with the end of the public comment period for responding to comments regarding DOE's LNG Export Study. DOE's study, conducted by NERA Economic Consulting, finds that in all scenarios, America benefits from LNG exports in terms of increased GDP growth and job creation. The more natural gas America exports, the more America benefits.
"America has an oversupply of natural gas because companies have made extraordinary technical advances and unlocked previously inaccessible natural gas resources," said Kathleen Sgamma, Vice President of Government & Public Affairs. "As with any technological innovation, the United States cannot expect to maintain its first-mover advantage forever. Other nations are starting to invest in American-developed horizontal drilling and hydraulic fracturing technology to develop their own reserves. Now is the time for the Obama Administration to approve LNG export terminal licenses, rather than continuing to delay job creation and economic growth.
"We are pleased to have the opportunity to respond to comments from certain industry and environmental groups calling for more impediments to exports. American producers have considerable spare capacity to increase production while maintaining low prices for domestic consumers. DOE has before it strong evidence showing the benefits of exports. America's free-trade principles and obligations should strongly impel America to move forward with LNG exports."
During today's press conference, API will outline new research and risks to U.S. investment and American jobs. There will be a question and answer session for reporters.
Who: Erik Milito, Director of Upstream and Industry Operation, API
Kathleen Sgamma, VP of Government & Public Affairs, Western Energy Alliance
What: Press conference urging the Department of Energy (DOE) to move forward with Liquefied Natural Gas (LNG) exports
When: Monday, February 25, 2013 at 2:00 p.m. ET
Call-in: (800) 374-2418 Code: 15181665
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 our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives. Learn more at www.api.org.
About Western Energy Alliance
Western Energy Alliance, founded in 1974 as the Independent Petroleum Association of Mountain States, is a non-profit trade association representing more than 400 companies engaged in all aspects of environmentally responsible exploration and production of oil and natural gas in the West. More information on Western Energy Alliance and its members is available at www.westernenergyalliance.org.