Reid Porter | 202.682.8114 | porterr@api.org

WASHINGTON, February 3, 2012 - API President & CEO Jack Gerard called on the administration to reverse its course from recommendations made by the Bureau of Land Management that would limit access to developing energy resources in Colorado, Utah and Wyoming.

"Within a week of encouraging an 'all of the above' energy strategy the administration has put on hold development of one of the nation's most energy-rich areas. There will be no opportunity to invest for years. The administration is sending negative signals to industry and capital markets at exactly the wrong time.

"Consistent and stable regulations are needed to promote the commercial development of oil shale, an important and strategic national resource. Reliable governance from the BLM in the management of this resource is essential to attract the significant investment capital needed to both advance needed technologies and begin development."  

API represents more than 490 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.