AMERICAN PETROLEUM INSTITUTE ISSUES STATEMENT ON PROPOSED NATIONAL ENERGY SECURITY ACT
AMERICAN PETROLEUM INSTITUTE ISSUES STATEMENT
ON PROPOSED NATIONAL ENERGY SECURITY ACT
WASHINGTON, Nov. 1 /PRNewswire/ -- The American Petroleum Institute issued the following statement on the proposed National Energy Security Act:
The Senate's action today on the proposed National Energy Security Act of 1991 is a tragedy because it is a serious setback to the future energy security and economic well-being of every American.
We supported the bill because it was a comprehensive and balanced energy measure that addressed the issues of increased domestic energy production, conservation and alternative fuels in a way that would have enhanced energy security and benefited the nation economically.
We continue to see exploration and development of the coastal plain of the Arctic National Wildlife Refuge in Alaska as the key to increased domestic oil production. It is a project that could provide billions of barrels of oil, reduce growing dependence on insecure imports and increase investments in our economy. That investment would translate into billions of dollars in benefits to the nation, including 735,000 jobs, revenues for the federal and state governments and significant reductions in the U.S. oil import bill.
Make no mistake about it, this action occurred because of the extremism of environmental organizations and their allies in the Senate who refuse to acknowledge the need for more domestic energy production and to accept an energy policy that balances energy needs, environmental goals and economic growth.
We will continue to assist those who work to enhance our country's energy security, but we ask, how can the nation have a national energy policy when the Senate even refuses to allow debate on the essential component parts? The action today is a shameful abdication of responsibility on the part of the "greatest debating body in the world."
/CONTACT: Joe Lastelic of the American Petroleum Institute, 202-682-8125/ CO: American Petroleum Institute ST: District of Columbia IN: OIL SU: MH-SB -- DC018 -- 0254 11/01/91 13:20 EST