API President and CEO Mike Sommers recently joined industry leaders from across the energy sector at the U.S. Energy Association's annual forum in Washington, D.C., to discuss the state of the industry and the importance of sustaining American energy leadership.
"The State of the Energy Industry in 2020 is one of U.S. leadership in three key ways: energy development, emissions reductions and environmental performance," Sommers said. "The natural gas and oil industry sees all three as top priorities, and we're executing on all of them at the same time."
Sommers noted America is now the No. 1 producer of natural gas and oil in the world and that last year, for the first time since the 1950s, the U.S. became a net exporter of total energy.
"U.S. energy leadership offers stability in chaotic times and insulates America from unreliable suppliers of energy," he said. "We saw this reality in action [recently]. America's vast energy resources helped stave off economic turmoil and price hikes at the pump when our nation stood on the brink of war with Iran. A few years ago, such stability would be unheard of ⦠You can thank the shale revolution and the sheer fact that American oil production doubled over the past decade. That surge means we import millions fewer barrels of oil per day from other nations."
At the same time as its exports have grown, U.S. emissions have declined to their lowest levels in a generation.
"Thanks in part to the strength of cleaner-burning natural gas, forecasters expect energy-related carbon dioxide emissions to decrease even further this year and next, just as we saw in 2019," Sommers said.
Sommers also outlined key policy priorities for the industry, including infrastructure, trade and carbon capture.
"No matter which presidential candidate you support, we can all come together on specific policy priorities," Sommers said. "For example, America could unlock an estimated $1 trillion in new private infrastructure investments to safely and efficiently deliver energy from where it is to where it isn't. Reforming the National Environmental Policy Act is a critical step toward meeting growing demand for cleaner energy and unleashing job-creating infrastructure projects delayed by bureaucracy."
Sommers reminded attendees the energy future is not a partisan issue, but one that affects all of the U.S. "When we fight for smart policy on issues like infrastructure, trade and carbon capture, it isn't a Washington game. We want real energy progress in American communities, large and small. Our energy future can unite Democrats, Republicans and independents alike. And that is the spirit of everything we do at API and across our industry. I'm confident that everyone can get behind energy security and protecting our planet. It takes a blend of both to keep America ahead of the global pack."
For more information, visit www.api.org or call (202) 682-8000.