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: “The House energy package would remove multiple government barriers that are holding back the job-creating potential of America’s energy revolution.

“The US is now the world’s 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’s full strength as an energy superpower.

“LNG 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’s ready to fuel new economic growth by unlocking America’s energy potential, and we urge Senate leaders to follow suit.”

Adapted from press release by Katie Woodward

Read the article online at: https://www.worldpipelines.com/business-news/22092014/house-passes-hr2-energy-legislation-1290/