Whatever the president has in mind, the oil industry doesn’t appear to like the sound of it. API, the US’s main oil-industry trade group, responded to the speech with a statement saying Obama should avoid “bombarding our economy with duplicative, job-crushing new regulations.”

“The goals of environmental progress and energy production are not mutually exclusive,” API’s CEO, Jack Gerard, said in the statement. “Our nation’s new status as the world’s leading producer of oil and natural gas is saving American families and businesses billions in energy costs.”

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