API: U.S. Must Be Nimble to Lead 'Demand Decade' in Energy


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Global energy markets are entering a definitive 
"demand decade" requiring historical output for new technological and economic 
needs, with the U.S. particularly needing enduring policy and investments to 
stay atop the game, the American Petroleum Institute (API) said Tuesday (1/13).

   "The United States is the world's energy superpower -- but that status isn't 
guaranteed," API President Mike Sommers said in a speech to the group's members 
outlining the group's 2026 agenda.

   To preserve its position, the U.S., which produces a record high of above 13 
million bpd, needs to lead with energy infrastructure, access and international 
competitiveness, he said. "Across all three, the priority is the same: durable 
policy that outlasts political cycles and supports long-term investment, 
reliability, and growth."

   The overhaul of federal laws to speed up drilling permits would be the 
"hinge point" of future demand, Sommers said, citing upstream activity often 
hampered by red tape and lawsuits.

   Even with the U.S. in control now of Venezuelan oil, turning the gigantic 
reserves there into barrels will depend less on expertise and geology than 
stable governance, rule of law, operational security, physical safety and 
long-term investment certainty, Sommers added.

    

    

    




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