The American Petroleum Institute (API) has partnered with the Alaska Oil and Gas Association (AOGA), expressing shared concerns that the Biden administration's cancellation of the initial contracts with oil and gas companies was unjustified. The two organizations, which both represent the interests of the fossil fuel industry, have voiced criticism over the government's recent decision, noting its significant potential to impact the sector negatively.
1. The American Petroleum Institute (API) has teamed up with the Alaska Oil and Gas Association (AOGA) in opposition to the Biden administration's cancellation of initial contracts with oil and gas companies.
2. Both organizations, representing the fossil fuel industry, believe the government's decision could significantly harm their sector.
3. The partnership between API and AOGA was formed as a response to the cancellation of original oil and gas lease sales in Alaska.
4. The organizations argue that the cancellation disregards potential economic benefits and job opportunities, both nationally and in Alaska, produced by the oil and gas industries.
5. API and AOGA are concerned about the significant impact this decision could have on Alaska's state revenue, which heavily depends on oil and gas operations.
In 2020, the oil and gas industry in Alaska supported over 110,000 jobs, contributing to approximately one-third of all employment in the state.
The collaboration between API and AOGA comes as a response to the Biden administration's decision to cancel the original oil and gas lease sales in Alaska. Both entities believe that this cancellation is unjustified and could potentially harm the oil and gas industries in the region. They argue that the move disregards the substantial economic benefits and job opportunities generated by these industries, not just in Alaska, but throughout the country. They also raised concerns about the substantial impact this decision could have on Alaska's state revenue, which significantly relies on the oil and gas operations.