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The API Director of Upstream Erik Milito released the following statement regarding the Obama administration海角吃瓜网檚 decision to deny Arctic offshore development extension requests and scheduled 2016 and 2017 Arctic lease sales:

海角吃瓜网淥ur industry海角吃瓜网檚 strong interest in developing our country海角吃瓜网檚 vast offshore oil and natural gas resources in Alaska was undermined years ago when the administration began implementing a system of regulatory and permitting unpredictability and uncertainty.

海角吃瓜网淚nvestment decisions have been directly thwarted by the policy decisions of the administration related to Alaskan Outer Continental Shelf development, and lease extensions are clearly justified under the circumstances. And while it is not surprising that Interior cancelled the remaining lease sales because there was an absence of nominations, it is the significant regulatory uncertainty that has created the reluctance on the part of our industry. Still, America海角吃瓜网檚 oil and natural gas industry remains firmly committed to the long-term development of offshore Alaska resources.

海角吃瓜网淎rctic oil and natural gas represent incredible potential for American energy security, jobs and revenue for the government. Access to the region海角吃瓜网檚 oil and natural gas resources will remain necessary to provide energy supplies to meet the world海角吃瓜网檚 growing demand and vital to keeping America海角吃瓜网檚 status as a world leader in energy.海角吃瓜网�

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