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API: US demand grows, but policies may stymie production

01/31/2011
Nick SnowWashington EditorStronger US petroleum deliveries for all of 2010 as well as December reflected a growing US economic recovery, the American Petroleum Institute said. But its chief economist warned that Obama administration policies could restrict growth of US crude oil production to help meet higher US demand in the future."We continue to try to improve production, but there are challenges going forward," John C. Felmy said in a Jan. 21 teleconference. "There was the Gulf of Mexico moratorium, and now there's what is called the 'permitorium.' We've seen permits retracted and not moved forward onshore, which is disappointing because we have some bright prospects, p...
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