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Page added on October 1, 2012
Spin from the American Petroleum Institute
According to the American Petroleum Institute (API), the lobbying arm of the oil and gas industry, “America needs a balanced energy policy that promotes energy efficiency, conservation and greater supplies of all forms of energy, including domestic oil and natural gas. The industry has proven it can develop these resources safely and in an environmentally responsible manner in all regions, including on non-park federal lands.” There are a few problems with this “forward looking” statement as discussed below.
“Promotes Energy Conservation and Conservation”
Energy conservation and efficiency on the domestic front means that the oil industry will sell oil abroad to maximize shareholder profits. Selling oil overseas has been increasing during the past several years as indicated by the following graphs (click on them for enlargement) of exports for finished motor gasoline and distillate fuel:
During the ExxonMobil Annual Share Holder Meeting, May 30, 2012, excellent financial results were proclaimed. These included:
• “Superior financial/operating results”
• “Earnings $41B”
• “Unmatched shareholder distributions $29B”
How could these impressive financial results be achieved based on conservation and efficiency (i.e., selling less fossil fuel products)?
“Develop Resources Safely and in Environmentally Responsible Manner”
“The Deepwater Horizon oil spill (also referred to as the BP oil spill, the BP oil disaster, the Gulf of Mexico oil spill, and the Macondo blowout) is an oil spill in the Gulf of Mexico which flowed unabated for three months in 2010, and may be continuing to seep. It is the largest accidental marine oil spill in the history of the petroleum industry.”
Conclusion: The assertions claimed by the API on energy conservation and environmentally safe operations are clearly in error and detract from oil and gas industry credibility.
3 Comments on "Spin from the American Petroleum Institute"
Plantagenet on Mon, 1st Oct 2012 10:03 pm
There is a difference oil and the refined products of oil like gasoline.
I’m amazed this consultant doesn’t know that.
BillT on Tue, 2nd Oct 2012 2:06 am
There is no credibility in the gas and oil industry. All lies.
Keith_McClary on Tue, 2nd Oct 2012 3:09 am
This is imported oil refined in US and the gasoline, etc. exported to Caribbean and Central American countries that don’t have their own refineries.
Not what is usually meant by “overseas”.
The quantities are a drop in the bucket.