by Daniel J. Graeber
Washington (UPI) Oct 3, 2014
While welcoming a presidential address on the economy, the American Petroleum Institute said more stimulus could come as a result of less burdensome regulation.
API, which represents the interests of the U.S. oil and gas sector, welcomed statements Thursday from President Barack Obama that U.S. economic growth was coming as a result of the shale boom.
"The first cornerstone [of growth] is new investments in the energy and technologies that make America a magnet for good, middle-class jobs," the president said during his speech at Northwestern University in Chicago.
API President Jack Gerard said he appreciated the president recognized the role of energy in economic stimulus.
"But let's be clear -- our energy renaissance has occurred despite White House policies, thanks primarily to the support of private investors and state governors who have worked diligently to support new development," he said.
While imports are down because of shale oil production from states like Texas and North Dakota, API said trade restrictions on crude oil mean the energy sector is not performing as well as it could.
Obama added that "tens of thousands" of people have found work in manufacturing wind turbines and in the installation of solar panels.
All About Oil and Gas News at OilGasDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.|