WASHINGTON, July 19, 2011 – EPA’s proposed new ozone standards would damage America’s economy and eliminate millions of jobs, API President and CEO Jack Gerard said at a Business Roundtable press conference today. He said the standards would harm businesses and consumers, especially energy producers and energy consumers.
“The President has a chance to show he’s serious about his stated goal of improving regulations and creating jobs,” said API President and CEO Jack Gerard. “This action is discretionary – no law or court is compelling action – and would clearly harm job creation and economic growth, all at a time when air quality continues to improve under the existing standards.”
Gerard noted that if the proposed new standards were imposed, it may be impossible in many places to expand a refinery or drill for more oil and natural gas. He said the cost of producing energy could increase and that Americans might be forced to use gasoline and diesel products that are costlier to manufacture.
Gerard strongly urged the agency to continue to review the science and consider the need to issue more stringent standards in the normal review cycle. If EPA goes ahead with the new standards now instead, it could “sabotage our nascent but still anemic recovery and depress economic and job growth for decades,” Gerard concluded.
API represents more than 470 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.