Watch: This Is Why Biden’s $2 Trillion Infrastructure Plan Will Fail
In the United States, we have a problem that’s so BIG and obvious that even Elon Musk can’t see it. Our highways are broken, our streets are clogged with traffic,...
In a statement to reporters, Milito refuted a report by the Interior Department that U.S. oil and natural gas companies are sitting on oil leases granted by the government, refusing to turn them into producing leases.
“The report completely whitewashes the fact that in many cases, the reason these leases have no exploration plans is that BOEMRE is sitting on those plans,” Milito said. “This is like leasing an apartment from the government for $20 million dollars and the government refuses to give you the keys to the apartment – then the government proceeds to complain because you are not occupying the premises.”
API represents more than 470 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America’s energy, supports more than 9.2 million U.S. jobs and 7.5 percent of the U.S. economy, and, since 2000, has invested nearly $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
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