This Executive Report introduces the API Economy to CxO-level executives of industries outside IT. It follows a novel dialogue format, as if it were a transcription of an introductory consulting session with the CEO and CIO of a fictional company in the oil and gas industry. The report defines API and the API Economy, discusses some of the many API business models, argues that this economy extends a proven software architecture onto the Internet, presents that architecture as a tool for thinking about business models, and discusses the role of developer relations in making APIs successful. The report then applies these ideas to the task of solving one of the fictional company's billion-dollar business problems using an API-based approach.