The American Petroleum Institute (API) is the largest U.S. trade association for the oil and natural gas industry. Over the years, API has played a role on advising Florida lawmakers on related topics dealing with America’s energy dominance and energy production.
Gifford Briggs, the Gulf Coast Region Director of the American Petroleum Institute (API), which covers Florida, says his group had laid out several ideas plan that would promote energy solvency and lower bills for Florida consumers.
Protect Consumer Choice.
When it comes to energy, consumers should have more choice, not less. “While we agree on the need to reduce transportation emissions, the mandates do not work, and the government should not be telling Americans which cars to drive,” said the group.
API points out that Florida’s agriculture community, like farmers and ranchers and small business owners, should not shoulder the burden of the extreme costs associated with a forced shift to electric vehicles (EVs).
Briggs says API’s work with Congress will help lower energy cost for Floridians.
Retain the 21% corporate tax rate to ensure global competitiveness. Maintain and extend tax provisions for domestic infrastructure investment. These provisions benefit multiple industries and drive investment and job creation. Immediate deductions for intangible drilling costs (IDCs) should be retained, 100% bonus depreciation should be reinstated, and technology–neutral tax credits that spur innovation should be supported.
API says that tax policy needs to be predictable. This way energy companies can move forward with investments, research and exploration.
API other topics of deregulation include repealing the Environmental Protection Agency’s (EPA) tailpipe rules plus repeal the National Highway Traffic Safety Administration’s Corporate Average Fuel Economy (CAFE) standards.
“The U.S. oil and natural gas industry supports nearly 11 million jobs and is responsible for billions of dollars of domestic investment in 2025. But capital flows where capital is welcome, and U.S. tax policy must be competitive with other countries,” says Briggs.
