"I understand companies want cheap feedstock, " adds John Felmy, the chief economist at the American Petroleum Institute, another trade group.
Indeed, Petrobras' accident rate is higher than the average of 1.6 accidents per million man-hours reported by the American Petroleum Institute.
Separately, crude stocks fell by about 12 million barrels for the week ending Dec. 28, according to the American Petroleum Institute.
Since January, the average tax per gallon has risen in 16 states, according to a new report from the American Petroleum Institute.
According to the American Petroleum Institute, the United States had derived about 32 percent of its energy from foreign sources in 1983.
FORBES: Idiot Politicians Propose Regulating Oil Companies With 'Reasonable Profits Board'
The American Petroleum Institute has announced that for the week ending April 15th, US combined stocks of crude, gasoline and distillates fell by 4.53 million barrels.
FORBES: Growing World Automobile Population Threatens Petroleum Balance
Ed Murphy of the American Petroleum Institute said he doubts whether the existing technology can even remove sulfur from diesel to the extent that the EPA wants.
CNN: Fuel refiners dispute EPA plan for reduction of sulfur content in vehicles
"We're very confident that what is happening is a normal reaction to a market system, " Edward Murphy, a senior manager for the American Petroleum Institute, told CNN on Friday.
CNN: Gore calls for antitrust investigation into high gasoline prices - June 19, 2000, 2000
The American Petroleum Institute recently commissioned a study by the Wood Mackenzie consulting firm, which estimated that better federal energy policy would create an additional 1.4 million jobs by 2030.
In early October, the American Petroleum Institute, the U.S. Chamber of Commerce, the Independent Petroleum Association of America, and the National Foreign Trade Council challenged the rule in court.
Throughout the comment process the American Petroleum Institute (API) and other business groups detailed the competitive disadvantage that could befall U.S. energy companies should the SEC require public disclosure of commercially sensitive payment information.
Gunasekara, Counsel, American Petroleum Institute co-authored this article.
When coupled with state and local taxes and fees, the average American pays 45.8 cents per gallon in gas taxes alone, according to the American Petroleum Institute, the industry group that represents big oil companies.
American Petroleum Institute President Jack Gerard said companies had "brought together the best minds in the industry" to study the lessons of the Deepwater Horizon disaster and to make recommendations to the Secretary of the Interior.
WSJ: Oil Industry Recommends Offshore Safety Measures After Gulf Spill
"If you're disclosing and the other guy doesn't have to, you're not really on a level playing field, " says Chris Joyner, a spokesman for the American Petroleum Institute (API), an industry group for oil and natural gas companies.
Edward Murphy, a research director at the American Petroleum Institute, points out that it costs foreign refiners no more than 4 cents a gallon to ship gasoline to the U.S. That means increased imports from Europe, which has seen declining demand for gasoline as motorists opt for diesel.
The utter predictability of it all is becoming comical, so comical in fact that the American Petroleum Institute (API) responded to this budget proposal filled with stale, debunked and retreaded energy-related proposals by retreading the same statement it had issued in response to the proposed budget submitted by President Obama last year.
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