American Petroleum Institute backs ARPA-E reauthorization
The American Petroleum Institute (API) released last week a statement in support of the benefits of the House Science, Space and Technology Committee’s decision to reauthorize the Advanced Research Projects Agency-Energy (ARPA-E).
“We’re pleased to support the reauthorization of ARPA-E, in addition to a substantial funding increase for this program,” Dustin Meyer, API’s director of Market Development, said. “The U.S. currently leads the world in emissions reductions, and this program ensures that we will continue to introduce new solutions to the world’s most pressing energy challenges for decades to come.”
ARPA-E was created in 2007 when President George W. Bush signed the America COMPETES Act into law. The legislation focuses on investing in nascent advanced energy technologies, promoting, and funding research.
The bill enables an increase in ARPA-E’s authorization level. The funding allotment for fiscal year 2020 will be $428 million while rising to $750 million in FY 2024. That is significant because ARPA-E has only been able to support 1 percent of the proposals submitted for its Open Funding Opportunity Announcements.
API’s 600-plus members include integrated companies, as well as exploration and production, refining, marketing, pipeline, marine businesses and service, and supply firms.
The reauthorization would help ARPA-E support projects to improve the resilience, reliability, and security of American energy infrastructure, according to API.
