Petroleum Institute Offers Trump A Road Map To Success

President-elect Donald Trump recently addressed the American Petroleum Institute.

The institute offered Trump a five-point plan for a U.S. energy independence roadmap to revitalize the oil and gas industry.

"Our country has a generational opportunity to fully leverage U.S. energy leadership to improve the lives of all Americans and bring stability to a volatile world," API President and CEO Mike Sommers wrote in the letter to President-elect Trump. "It has never been more vital that America control its energy future."

The institute encouraged Trump to expand oil and natural gas production and tap into "unprecedented resources" to reduce reliance on foreign energy services.

To achieve this many government agencies and their regulations must be rolled back. Bureaucratic power must be greatly reduced.

"Yet our continued success is far from guaranteed, and we have been heading down a path of extreme regulations threatening everything from our choice of home appliances to the cars we drive," Sommers wrote. "As an industry committed to American prosperity, we stand ready to work with you and Congress to reverse course and advance a robust vision for securing America's energy dominance."

They went on to ask for the EPA to repeal new tailpipe rules, repeal restrictive onshore leasing and methane rules.

They would also like help with the new 21% corporate tax rate to ensure global competitiveness and domestic infrastructure investments.

"President Biden's promise to end fossil fuels hurt the hardworking energy producers of my district, who have worked diligently to increase production while reducing emissions," said U.S. Rep. August Pfluger, R-Texas, in a statement.

"The Biden-Harris EPA's 'natural gas tax' will drive up costs for all Americans, jeopardize our energy security, and increase emissions," Pfluger said. "I have fought the natural gas tax since its inception, and I look forward to its repeal under President Trump."