Three separate energy associations responded to a recent deal restricting energy production in the Gulf of Mexico. The joint statement, found in a July 21 press release from the American Petroleum Institute (API), expressed their opinion that these regulations are unmerited and damaging.
"The men and women of America's energy industry take seriously their responsibilities to the communities and the environment where they live and work. This private settlement agreement between the federal government and environmental activists places unfounded restrictions on operations in the U.S. Gulf of Mexico that severely hamper America's ability to produce energy in a region that is responsible for the lowest carbon-intensive barrels in the world," API, EnerGeo Alliance and National Ocean Industries Association (NOIA) said in the release.
"Despite no evidence to warrant this far-reaching ban on operations after extensive data collections, today’s agreement undermines the integrity of legitimate conservation and habitat protection efforts, violates the explicit directives of Congress in enacting the Inflation Reduction Act, and harms America’s energy independence."
According to the press release, API states that themselves, along with the NOIA and the EnerGeo Alliance, have released a statement expressing disapproval of a Stipulated Stay Agreement.
According to an article from Fox News, this agreement involved the Biden Administration regulating oil production to protect whales and included a vast area in the Gulf of Mexico of reportedly over 10 million acres that will now no longer be leasable. According to the report, this area includes “rich oil resources” and likely would have been an option for lease sales otherwise.
The Fox News article reports that the agreement was settled with the National Marine Fisheries Service (NMFS) at the Maryland District Court. NMFS reportedly agreed to terms from a group of environmental organizations, reportedly led by the Sierra Club, on the condition that they pause the litigation.
According to the press release, the American Petroleum Institute provides close to 11 million American jobs involved in producing, processing and distributing energy sources. Additionally, API leads the way for its approximately 600 members to participate in the API Energy Excellence initiative aimed at environmental progress through transparency and technological innovations. More about API, as well as EnerGeo Alliance and NOIA, can be found in the press release.
