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MarketWatchThe head of the petroleum industry’s trade group said Tuesday that he plans to push Congress to open up more areas of the United States to drilling, just one day before newly ascendent Republicans take control of the House of Representatives.
Jack Gerard, president of the American Petroleum Institute, also urged Washington to quickly clarify its rules on drilling, speed up the permit process and refrain from new industry taxes.
Without faster action, he warned, thousands of jobs would be lost and the federal government could miss out on badly needed revenue from lease sales and other taxes generated by petroleum-industry development.
“Energy growth is economic growth,” said Gerard, who asserted that the petroleum industry accounts directly and indirectly for 9.2 million U.S. jobs, or one of every 14 nonfarm workers.
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