World Oil
WASHINGTON, November 29, 2023 – American Petroleum Institute (API) Executive Vice President and Chief Advocacy Officer Amanda Eversole testified before a U.S. House Committee on Energy and Commerce subcommittee, highlighting the critical role of American energy leadership in strengthening national security, supporting economic prosperity and advancing innovation to accelerate climate progress.
“America’s vast energy resources are the foundation for security and economic prosperity, in this country and around the world,” Eversole said in submitted written testimony. “In a time of tremendous geopolitical uncertainty, American energy has been a reliable source of strength for our allies abroad and a foundational asset to developing nations working to escape energy poverty.”
Eversole highlighted how American innovation spurred the shale revolution, transforming the energy landscape in the U.S. Today, U.S. CO2 emissions from the domestic power sector have fallen to their lowest levels since the 1980s, and cleaner fuels have helped lower tailpipe pollutants by 99% since the 1960s.
“The shale revolution didn’t happen by accident. It was the product of innovation and investment that can only happen in a society of free markets, where government policies don’t suppress innovation and stand in the way of energy production,” Eversole said. “The U.S. oil and natural gas industry knows how to solve big and complex problems, and that is exactly what we will continue to do, with innovation leading the way.”
Eversole underscored how American energy is a stabilizing force. When Russia invaded Ukraine and upended global energy markets, the U.S. surged more than 800 LNG cargoes to Europe – a 141% increase over 2021.
“Lessons from the past match lessons from the present. Russia’s war against Ukraine – on the heels of a brutal pandemic – created new, frequently uncomfortable norms for energy and foreign policy,” Eversole said. “America must, to the greatest extent possible, lead on energy.”
“American energy is writing a remarkable, game-changing chapter in the story of our nation’s future,” Eversole concluded. “If our nation’s leadership is to grow, Washington must enact policies that support increased oil and natural gas investment, exploration, and production as part of a balanced and reliable energy mix.”
