API: State of American Energy is Strong as ‘Demand Decade’ Arrives

WASHINGTON, January 13, 2025 - The American Petroleum Institute (API) today convened its annual State of American Energy event, bringing together industry leaders, policymakers and market analysts to examine the forces shaping America's energy future as demand accelerates at home and abroad.

In his keynote address, API President and CEO Mike Sommers outlined the policy choices he said will determine whether the United States sustains its energy leadership during the coming "demand decade," while also addressing recent geopolitical developments, including Venezuela, and their implications for global energy markets.

"The next ten years are shaping up to be the Demand Decade-an era that is going to require historic amounts of new energy," Sommers said. "Whether our nation can meet that demand will define its trajectory."

Sommers said the United States is uniquely positioned to meet this moment. "The state of American energy is strong. There is no nation better positioned to lead in this new era."

The United States today leads the world in oil and natural gas production, producing more than 13 million barrels of oil per day - more than any country in history. Sommers outlined API's 2026 policy agenda - infrastructure, access, and international competitiveness.

"The United States is the world's energy superpower - but that status isn't guaranteed," Sommers said. "Infrastructure. Access. International competitiveness. Across all three, the priority is the same: durable policy that outlasts political cycles and supports long-term investment, reliability, and growth."

Sommers pointed to comprehensive permitting reform as the "hinge point" of the Demand Decade and the top energy policy priority of 2026. "Right now, America has energy in the ground - and demand on the grid - but too often the connection between the two is blocked by red tape, delay and endless lawsuits."

Against the backdrop of rising global demand, Sommers also addressed recent developments in Venezuela and the conditions required for long-term energy investment.

"Turning reserves into sustained production - whether in Venezuela or anywhere else - requires more than expertise and geology. It requires stable governance, rule of law, operational security, physical safety, and long-term investment certainty."

Sommers concluded by pointing to a growing national consensus around "energy realism."

"Americans spent years being told they should do less, build less, produce less and pay more. We're done with that," Sommers said. "The mainstream has moved decisively toward abundance, affordability, and growth. …This is the clearest public consensus we've seen in a decade."

The event featured conversations with Marathon Petroleum Chairman, President and CEO Maryann Mannen, who is also the chairman of the API board; EQT Corporation President and CEO Toby Rice; Cheniere Energy President and CEO Jack Fusco; Rapidan Energy President and Founder Bob McNally; ClearView Energy Partners Managing Director Kevin Book; and Veriten Partner Arjun Murti on the policy, economic and geopolitical forces shaping global energy markets. The program also included a conversation with Andy Garcia, an award-winning actor from the Paramount+ series Landman, who discussed how the hit show is elevating the stories of the men and women who power the country.

For a copy of API President and CEO Mike Sommers' prepared remarks, click here.

The American Petroleum Institute (API) represents all segments of America's oil and natural gas industry, supporting nearly 11 million U.S. jobs. With approximately 600 members, API companies produce, process, and distribute the majority of the nation's energy. Founded in 1919, API has developed over 800 standards to enhance operational and environmental safety, efficiency, and sustainability.