North Dakota was regarded as a model for the United States during today’s State of American Energy report by Jack Gerard, president and CEO of the American Petroleum Institute.
Gerard highlighted the economic impact of the oil and gas industry during his report to Congress.
In states such as North Dakota, thousands of jobs have been created over the past few years as a result of oil and gas resources that have been uncovered through modern technology, Gerard said.
Punitive tax policies and over-regulation of the industry could threaten the ability for the U.S. to achieve energy security, Gerard said.
“If we get the policy right, this is a game-changing opportunity for the United States, not only to make us energy secure as a nation, but we can literally reshape the geopolitical dynamics of the world,” Gerard said.
Gerard began his speech by introducing Sen. Heidi Heitkamp, D-N.D., who was seated at the head table. He called her a cheerleader for North Dakota and an expert in the area of oil and gas.
“We look forward to working with you as you show us the North Dakota model for the rest of the country,” Gerard said.
If you missed the webcast, check here for an archived webcast or read Gerard’s prepared speech here.
The American Petroleum Institute is a trade association that represents the oil and gas industry.