API: Industry environment outlays top EPA's

The American Petroleum Institute reports the U.S. petroleum industry spent about $9.6 billion on the environment in 1995, or about $100/household. It noted the expenditure is about $2 billion more than the annual budget of the Environmental Protection Agency (EPA). U.S. industry outlays API said U.S. industry environmental expenditures declined about $1 billion in 1995 from 1994 because industry made most of its capital investments for cleaner-burning fuels in the preceding 3 years. It said operational maintenance and administrative expenditures relating to compliance with environmental regulations increased by almost $500 million in 1995. API's fifth annual pet...

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