WASHINGTON, October 19, 2022 — American Petroleum Institute (API) President and CEO Mike Sommers today issued the following statement in response to President Biden’s remarks on gasoline prices:
 
 “Increasing energy demand and constrained supply coupled with geopolitical instability and faulty policy decisions have driven fuel prices higher. At a time when American energy can be a stabilizing force at home and abroad, we urge caution in continuing to rely on short-term efforts that are no substitute for sound long-term policies that enable American energy leadership.
 
 “The administration should instead focus on addressing the fundamental economic and security challenges we face by spurring more investment in American energy, infrastructure and markets that enable U.S. consumers to benefit from America’s reliable energy resources.”