Tag: API

Kiran Stacey

Earlier, I promised you the reaction of the oil industry to the call by Barack Obama to end its subsidies.

Well, here is the API’s full reaction, courtesy of Jack Gerard, the organisation’s chief:

Sheila McNulty

A group of US investors have filed shareholder resolutions with nine oil and gas companies, pressing them to disclose plans for managing risks associated with the technology being used to extract gas from shale rock.

With the US Environmental Protection Agency investigating the risks; a New York State moratorium on use of the technology; and cases like the one being built against Range Resources in Texas, the resolutions are no surprise.

Kiran Stacey

In this week’s readers’ Q&A session, Jack Gerard, head of the API, the voice of the US oil industry, answers your questions.

In this second of two posts, he discusses peak oil, the potential of natural gas, and what the API’s lobbying achieves.

Earlier, he answered questions on the importance of energy efficiency, why drilling curbs should be eased and where the world will find new sources of oil.

Next in the hotseat is Magued Eldaief, the head of GE’s UK energy business. He ill be answering your questions next Friday, January 21st. Send in your questions for consideration by the end of Sunday, January 16th to energysource@ft.com.

But for now, over to Jack:

Kiran Stacey

In this week’s readers’ Q&A session, Jack Gerard, head of the API, the voice of the US oil industry, answers your questions.

In the first of two posts, he discusses the importance of energy efficiency, why drilling curbs should be eased and where the world will find new sources of oil.

In the second post, published above, he discusses peak oil, the potential of natural gas, and what the API’s lobbying achieves.

Next in the hotseat is Magued Eldaief, the head of GE’s UK energy business. He ill be answering your questions next Friday, January 21st. Send in your questions for consideration by the end of Sunday, January 16th to energysource@ft.com.

But for now, over to Jack:

Kiran Stacey

The main lobbyist for the US oil industry has called on the government to open up the entire country to drilling.

Answering Energy Source readers’ questions, Jack Gerard, head of the American Petroleum Institute, said opening up all limited areas would reduce imports, cut the trade deficit, lower prices and create jobs.

He said:

It is difficult to quantify how much increased production would affect imports, but if companies had access to all US areas now off limits, a substantial increase in domestic production would be possible.

Sheila McNulty

The US oil and gas industry feels slighted by the fact that the presidential oil commission’s report raises questions about the safety of deepwater drilling generally. Speaking for the industry is the American Petroleum Institute, which represents more than 400 oil and gas companies:

The industry has already taken significant action to futher improve safety in offshore operations, consistent with the recommendations of the presidential commission on last summer’s oil spill.

Sheila McNulty

The oil industry is taking its lobbying to the streets on September 1, when it will stage rallies in three Texas cities – Houston, Port Arthur and Corpus Christi.

The American Petroleum Institute, a key organiser, says more than 5,000 people - and more likely 7,000 considering RSVPs from oil and gas companies, supporting agricultural and other companies – are expected to show up.

The last time the industry held a rally it did fill the venue as companies urged their staff to attend in hope of drumming up support for the industry.

The oil industry is the lifeblood of Texas. The API, the industry’s national trade organisation, estimates the oil and natural gas industry supports more than 1.7m jobs in Texas and accounts for almost 25 per cent of the state’s economy.  

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