The oil industry has launched a vigorous counter-offensive against the Biden administration's gas export review. Mike Sommers, the chief executive of the American Petroleum Institute (API), one of the most powerful oil industry trade groups, has openly expressed staunch criticism against this move. In a strongly worded reaction, Sommers accuses the administration of jeopardizing the nation's energy security and the thousands of jobs supported by the oil and gas sector through the review of natural gas export applications.
1. The oil industry has strongly objected to the Biden administration's gas export review.
2. Mike Sommers, the CEO of the American Petroleum Institute, has voiced strong criticism against the move.
3. Sommers accused the administration of jeopardizing the nation's energy security and jobs supported by the oil and gas sector.
4. The American Petroleum Institute's president sees the review as an unnecessary burden on a vital industry to the country's economic stability.
5. It is argued that these reviews could affect the United States' global energy dynamics, jeopardizing its commanding position in the world oil market and its competitive advantage.
The U.S. Energy Information Administration reports that in 2020, U.S exported approximately 9.4 billion cubic feet per day of natural gas, a 29% increase from 2019.
The American Petroleum Institute's president took a strong stance against the Biden administration's decision to revisit oil and gas export regulations. Citing the potential negative impact on U.S. energy markets and job growth, he criticized the measure as an unnecessary burden on an industry crucial to the country's economic stability. Furthermore, he argued that these reviews could possibly affect the United States' global energy dynamics, jeopardizing both its commanding position in the world oil market and its competitive advantage.