The American Petroleum Institute (API) has condemned reports that the Biden administration plans to ban new oil and natural gas activity across millions of acres of federal waters. API President and Chief Executive Officer Mike Sommers called the move “politically motivated” and urged policymakers to reverse it.
“American voters sent a clear message in support of domestic energy development, and yet the current administration is using its final days in office to cement a record of doing everything possible to restrict it,” Sommers said. “Congress and the incoming administration should fully leverage the nation’s vast offshore resources as a critical source of affordable energy, government revenue, and stability around the world.”
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The API emphasized the importance of US offshore production, which accounts for 14% of total US crude oil output—nearly two million barrels per day, according to the US Energy Information Administration.
“Reversing this politically-motivated decision should be a top priority for Congress,” the API stated.
It also urged the incoming administration to draft a new five-year offshore leasing program to replace what it described as “the weakest offshore program in history under the Biden administration.”
The organization called for a renewed focus on domestic energy production to support economic growth and global stability.
Biden in a statement on Monday cited the Deepwater Horizon disaster and climate change as justifications for his move.
“My decision reflects what coastal communities, businesses, and beachgoers have known for a long time: that drilling off these coasts could cause irreversible damage to places we hold dear and is unnecessary to meet our nation’s energy needs. It is not worth the risks. As the climate crisis continues to threaten communities across the country and we are transitioning to a clean energy economy, now is the time to protect these coasts for our children and grandchildren,” he said.
Incoming US President, Donald Trump has already signaled intentions to pour cold water on Biden’s plan.
“’It’s ridiculous. I’ll un-ban it immediately,’ Trump said on conservative host Hugh Hewitt’s show, according to MSN. “I will unban it. I have the right to unban it immediately. What’s he doing? Why is he doing it,” Trump said.
Trump has been very vocal about his support of America’s oil and gas industry. His campaign slogan, “Drill, Baby, Drill” has become synonymous with his plan to boost fossil fuel production and reverse climate policies and regulations aimed at reducing US carbon emissions.
