American energy independence was achieved through the innovation and grit of U.S. oil and gas producers
WASHINGTON – April 8, 2020 – Anne Bradbury, CEO of the American Exploration and Production Council, released the following statement with regard to a letter that 48 members of the House Energy Action Team (HEAT) sent today to the Kingdom of Saudi Arabia about the important role that Saudi Arabia plays in stabilizing global crude oil markets:
“With Congressman Scalise’s leadership, the House Energy Action Team is fighting for our country’s energy independence, something achieved through the innovation and grit of U.S. independent oil and gas producers. If we lose our energy independence, we will have to rely on oil from the Middle East and natural gas from Russia, which hurts our ability to negotiate on the global stage, drives up energy costs for small businesses and families, and destroys jobs and our economy.”
BACKGROUND
On behalf of U.S. independent producers of oil and gas, AXPC continues to advocate for policies that the Administration, in coordination with Members of Congress who support American energy independence, can utilize to help alleviate the oversupply crisis that the oil and gas industry is facing simultaneously with the ongoing demand crisis effectuated by the COVID-19 pandemic. AXPC is calling for market-based solutions to help alleviate the severe supply/demand imbalance currently happening, including:
-Economy-wide measures to provide support to American workers across multiple sectors impacted by recent events to help stimulate the economy;
-A diplomatic solution that could help ease tensions and restore balance to global oil markets; and,
-Congressional approval for the U.S. Department of Energy to meet President Trump’s directive to fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil.
About the American Exploration and Production Council:
AXPC is a national trade association representing 25 of the largest independent oil and natural gas exploration and production companies in the United States. Dedicated to safety, science, and technological advancement, AXPC members strive to deliver affordable, reliable energy to consumers while positively impacting the economy and the communities in which we live and operate. Learn more at https://axpc.org/
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