Business View Caribbean - July 2015 13
$1 trillion and lower average annual household energy
expenses by $360 by 2035, according to the study. A
path of regulatory constraints would lead to a cumula-
tive decrease of $500 billion in government revenue
from 2016 to 2035 and an increase of $242 in aver-
age annual household energy costs.
Some of the pro-development policies examined in
the study include:
• Increased access to energy resources offshore,
• A more efficient permitting process onshore,
• Quicker approval of energy infrastructure projects,
• Lifting of the decades old ban on crude oil exports.
Some of the regulatory constraining policies include:
• Proposed ozone rule from EPA,
• Hydraulic fracturing rule from the Bureau of Land
Management,
• Proposed rule on tank car safety from the Pipeline
and Hazardous Materials Safety Administration,
• Blowout preventer rule from the Bureau of Ocean
Energy Management,
• New rules that regulate refinery emissions from
EPA, and
• The Renewable Fuel Standard.
“Looking ahead to the 2016 elections, API will be en-
couraging a comprehensive conversation about our
energy future by engaging voters and policymakers
through our Vote4Energy education and advocacy ef-
fort,” Gerard said. “In exactly 72 weeks Americans will
cast their vote to decide who will represent them at all
levels of government. The electoral decisions we col-
lectively make in 2016 will be fundamental to the tra-
jectory of our nation’s energy, economic and national
security future. Future generations are looking to us to
get our nation’s energy policy right and are counting
on us to leave them a country that is second-to-none in
energy production, security and economic prosperity.”
