Hands Off, Oil Industry Warns Government

From The New York Times

By John M. Broder

Jack Gerard, the often-combative chief executive of the American Petroleum Institute, said Tuesday that the United States was “at the crossroads of a great turning point” in the nation’s energy history.

As long as Congress and the Obama administration don’t mess it up, he warned.

In a broad-gauge speech in Washington on the state of the American oil and gas industry, Mr. Gerard said that because of new petroleum finds and new drilling techniques – chiefly directional drilling and hydraulic fracturing in shale formations – the United States could become the world’s leading energy producer.

“North America could become self-sufficient in liquid fuels in roughly 12 years,” Mr. Gerard said, citing figures from the International Energy Agency. “And as a potential energy exporter, we can help bring greater stability to the geopolitics of energy, to say nothing of the positive impacts increased U.S. supply would have for U.S. businesses, workers and consumers.”

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