API criticizes bill that would block Keystone XL exports

02/5/2012 | Platts

The oil and natural gas industry reacted to legislation introduced by Rep. Edward Markey, D-Mass., that would restrict exports of petroleum products refined from crude transported by TransCanada's Keystone XL pipeline. "Any effort to restrict market forces on commodities like oil and natural gas is a North Korean style model of economics and has no place here in America," said John Felmy, the American Petroleum Institute's chief economist. "We don't think that American farmers would appreciate Mr. Markey calling on them to restrict their products, and it makes no sense for an elected official to suggest this backward approach with energy," Felmy said.

View Full Article in:


Published in Brief: