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API applauds House and Senate action on US trade restrictions

On a conference call with reporters, Jack Gerard, API president and CEO, applauded the parallel efforts in the House and Senate to lift bans on outdated US trade restrictions
API applauds House and Senate action on US trade restrictions

American Petroleum Institute (API) applauded legislative efforts now underway to lift outdated trade restrictions on US oil during a conference call today with reporters.

"At this moment, US diplomats are paving the way for Iran to reassert itself as a major world energy supplier," said Jack Gerard, API president and CEO. "American voters understand that lifting the ban on Iranian oil resources, while maintaining a ban on US companies, is illogical and restricts our own competitiveness. It doesn't make sense. US energy producers should not be placed at a competitive disadvantage to anyone, whether it is Russia, Iran or any oil-producing country.”

"These votes will play an important role in determining whether America remains a global energy superpower for decades to come," said Gerard. "If we act now to harness this once-in-generation opportunity, America is poised to add billions to the domestic economy, creating jobs up and down the energy supply chain.

"Bipartisan momentum is stronger than ever, and we urge members of the House and Senate to schedule committee and floor votes on this issue as soon as possible.  Now is the time to send a message to allies around the world that America is ready to lead."

Image: Jack Gerard/API

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