API: 97 percent of America could be closed for business under new EPA regulations
“These could be the costliest EPA regulations ever. . .nearly the entire country could effectively be closed for business should EPA move forward with this proposal.
“The challenges of meeting potential strict new standards would be massive. In many places, they would require ozone levels to be forced down to or below peak background levels. That’s because ozone is created naturally.
“For ozone standards of 60 parts per billion, which EPA could propose, 97 percent of the population would live in places out of compliance and subject to new emission reductions requirements. . .Needless to say, operating under such stringent requirements could stifle new investment necessary to create jobs. . .That could slow the economy or even nudge it into recession.
“Such strict standards are not justified from a health perspective and are not needed to continue air quality progress. The US is making progress toward meeting the current standards and air quality will continue to improve as we continue to reduce emissions that form ozone.”
API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
