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US energy groups target Keystone approval, shale as Obama wins second term

11.07.2012  | 

Obama won the US election with 332 electoral votes, far exceeding the 270 required to win. Republican challenger Mitt Romney finished with 206. “Right off the bat, the president can approve the Keystone Pipeline and put thousands of Americans to work immediately," said the API's chief executive.

Keywords:

The American Petroleum Institute (API) on Wednesday congratulated President Obama on his re-election, adding that it looks forward to expanding domestic oil and natural gas as a major pathway for job creation and economic growth.

"Americans have made their decision," said CEO Jack Gerard. "We look forward to continuing our work with the president and helping him fulfill his campaign promise to increase domestic oil and natural gas production that will create American jobs and strengthen our economy. 

"With both candidates supporting more development of America’s vast oil and natural gas resources, energy is a big winner in this election."

Obama won the US election with 332 electoral votes, far exceeding the 270 required to win. Republican challenger Mitt Romney finished with 206.

“Right off the bat, the president can approve the Keystone Pipeline and put thousands of Americans to work immediately," said Gerard. "He can acknowledge the effective role states are already playing in regulating oil and natural gas production and avoid the temptation to impose duplicative and unnecessary regulations on hydraulic fracturing.

"By following through on his own executive order to eliminate overly burdensome regulations, he can rein in EPA’s plans to impose regulatory burdens that could cost businesses hundreds of billions of dollars and chill economic growth."

The API concluded its remarks by focusing on domestic energy from the shale boom, which the API says is just beginning.

“We have an unprecedented opportunity to work together to create millions of new jobs, generate hundreds of billions of dollars for our government, and strengthen our energy and national security," Gerard said.

"With the right public policies, this could be a game changer for America.”

Meanwhile, the American Fuel & Petrochemical Manufacturers (AFPM) trade group issued the following statement.

"We hope that in his second term, the President will truly work to advance an all-of-the-above energy strategy that recognizes the importance of domestic energy resources and fuel and petrochemical manufacturers in rebuilding our nation’s economy," said AFPM president Charles T. Drevna.

"Although the popular vote was close in this election, it is clear that the vast majority of Americans want to develop our own natural resources and promote manufacturing jobs," Drevna continued. "Our nation is blessed with an abundance of energy resources that could revitalize job growth and our economy, enhance our national security and ensure a strong fuel and petrochemical manufacturing industry.

“President Obama should take actions in his second term to ensure our nation becomes a major force in the global energy picture.

"Such actions should include regulatory reforms necessary to maintain a strong American energy sector and immediately approving the Keystone XL Pipeline, which will create thousands of domestic jobs.”



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Jed A. Peeler
11.10.2012

Pres. Obama will continue to hamper oil and gas production, aswell as the Keystone pipeline, because that is the socialist that he is. He will force $27/gallon biofuels on the military, as he isdoing now, while cutting their budget. He is working to kill the U.S. economy, and high priced fuel is the fastest way.

stephen chikonde kabonga
11.08.2012

congrants to president OBAMA, you are an icon to the entire World and to energy sector to make human beings live peacefully and enjoy life in it's abundance! You are a great leader to inspire all races to embrace themselves in dignity for more blessings..........
Really you are so pleasing to make the entire world smile with dignity

Neil Switzer
11.08.2012

Think API regrets the Romney support ads?

v k kapoor
11.08.2012

I congratulate Obama for his grand success. I wish greater Development of the energy resources particularly gas and oil need utmost attention for the benefit of all the people nationally and globally. New technological methods for greater recovery are going to benefit man kind

Betty Pittman
11.07.2012

PLEASE ! Approve the Keystone pipeline,asap.

Our country will thank you.

hesham hossny
11.07.2012

i am sure of his success

Ashok De, P.Eng
11.07.2012

Congratulations to President Obama for the re-election. Now it is the decision making time. We, in Calgary, are looking for President Obama's approval of the Keystone Pipe Line as soon as possible to put people on both the sides back to work

wilbert boucher
11.07.2012

I would like to see the mackenzie vally pipeline happen that pipleine should be back on the table now that Barack Obama is president and the veiw from canadas point view is that the mackenzie vally pipeline why should we be inclusionary for the chinese when we all know why they are here to steal and broker our resourses we should be putting them outside any pipleine deals they have been including themselves I feel cheated just when we and all northeners have waited so long worked so hard and waited for the mackenzie vally pipeline thats when the chinese entered the picture trying to reel and deal for spot at each and every deal this is our oil not chinas we should have more input not china because they are not in the order to suggest anything they need the oil we dont see how they should have gotten involved on our product so you see the delimma they know i have had alot more to say what should happen that is because my dads friends were killed by the chinese and the koreans back in 1951 they the chinese treat me ike an enemy and they are in canada doing this kind of behavior trying to get people of canada to kick me out of canada even though i was born and raised in canada they are using propaganda to sway public opinion about me and the oil please remeber im canadian and should be treated like one god bless you

Michael Bell
11.07.2012

Mr. President,
Although I may not agree with you on some issues, I think we can all agree that by working with API and developing the Keystone pipeline, we can reduce our dependence on foreign oil and we can add many new people to the employment roles. Please work to make this happen. Thank you!

Ing. Paul Sullivan
11.07.2012

I am of course delighted at President Obama's re-election and believe that on a bi-partisan basis he will support the rapid development of the hydrocarbon driven economy. I think that he did the correct thing by taking LNG exports and other potential footballs off the table until after the election when good counsel and sensible consideration will drive the right outcome for the new energy golden age in the USA.

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