Oil Lobbyists Ask Trump for More Offshore Leases, LNG Approvals

(Bloomberg) - A major US oil industry lobbying group is pushing for President-elect Donald Trump and the Republican-controlled Congress to boost offshore crude-lease sales, reform permitting and quickly process applications related to liquefied natural gas shipments.

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The requests made by the American Petroleum Institute on Tuesday are part of the Washington group's new "5 Point Policy Roadmap" intended in part to help cut inflation and strengthen the US energy industry. The group asserts that the new administration should issue a new five-year offshore oil and gas leasing program, while also repealing restrictive onshore leasing rules on federal lands.

"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," Mike Sommers, chief executive officer for API, said in a letter to Trump outlining the group's agenda. "We stand ready to work with you and Congress to reverse course and advance a robust vision for securing America's energy dominance."

The push by industry lobbyists for friendlier rules on permitting, production, taxes and consumer choices come as the US oil sector slows its pace of growth. Earnings conference calls are now filled with talk of capital discipline, efficiency gains and returns to shareholders — not ambitions for booming output.

-With assistance from Ari Natter.

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