API Advocates Strong Investment To Boost Energy Security As Regional Tensions Escalate

The American Petroleum Institute (API) has called on nations to sustain investment in energy supply through the cycles as energy security measures have become increasingly critical with uncertainties over Middle East tensions.
The Institute said the U.S. energy system has helped mitigate the shock loss of oil and LNG supply from the Middle East when the Strait of Hormuz closed to traffic and sent refiners and gas importers worldwide scrambling for alternative supply.
The record American crude oil production and huge natural gas production and rising LNG exports were decades in the making, during which companies invested billions of dollars every year to increase oil, natural gas, and ...