We are at the beginning of a protracted battle over the long-term energy security of this nation.
Some leading decision-makers in the nation’s capitol are determined to constrain the development of domestic oil and natural gas by imposing a tax and fee scheme that will threaten not only domestic supplies but existing and new jobs while increasing our dependence on foreign oil. Additionally widespread misconceptions about the role of oil and gas in our nation's energy policy, threaten to set back the growth and development of a diversified, stable American energy portfolio.
Make no mistake about this, with worldwide energy consumption expected to grow by 50 percent over the next 20 years, we need all the affordable energy that we can develop, including oil and natural gas. Get involved and find out what you can do to help secure America's energy future.
TAKE ACTION NOW!
Climate Change
Urge your Senators to support sensible energy policies and oppose overreaching climate change legislation.
Send a Letter Today!
EPA Regulation
Urge President Obama to stop the EPA from imposing new regulations on greenhouse gases that will cost jobs and hurt economic recovery.
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Taxes
Tell Congress to oppose proposals that will impose $400 billion in tax increases and support a balanced energy policy that encourages increased oil and natural gas development.
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Energy Taxes: What does it mean to your state?
What happens in the oil and natural gas industry reverberates throughout the economy. That’s because the industry is connected to a wide variety of industries that use oil and natural gas products either directly or indirectly. New taxes could hurt workers and industries throughout the economy. The oil and natural gas industry is working to minimize the downsizing, cancellation of projects and reduction in its workforce that may be required by the plunge in crude oil and natural gas prices. More taxes would hamper those efforts and could result in the loss of thousands of industry related jobs annually. The primary industries and number of firms and employees most at risk in the United States are within this map.
For more information on this critical tax issue, click here.
IMPORTANT ENERGY NEWS
American Petroleum Institute President Jack Gerard issued a statement today on provisions included in the President’s FY 2011 budget submission that are aimed at imposing new taxes on the oil and natural gas industry. To view the release, click here.
API President and CEO Jack Gerard issued a recent statement regarding President Obama’s upcoming State of the Union address, which began, “The President delivers his State of the Union address tomorrow. We expect the focus to be on jobs, as it should be with 15 million Americans out of work. We welcome the President’s move to job creation and the economy and extend our hand to work together toward this worthy goal. We also hope the President takes the opportunity to recognize the potential of energy development to create more jobs. Not only jobs from producing more so-called green energy. But also jobs from producing more American oil and natural gas. The American oil and natural gas industry clearly has a role to play in putting Americans back to work. The U.S. oil and natural gas industry already supports more than 9 million American jobs and can create many more. The industry created more than two million additional American jobs in the years 2004 to 2007 alone. We are also a leading creator of green jobs. Between 2000 and 2008, the oil and natural gas industry invested more than $58 billion on these and other carbon mitigation technologies, more than either the federal government or the rest of private industry combined. Using Center for American Progress economic assumptions, we have created 1.2 million green jobs and there is more potential.” To view the full release, click here.
American Petroleum Institute President and CEO Jack Gerard issued a statement last week on Interior Secretary Ken Salazar’s announcement that he would impose additional regulatory hurdles before allowing companies to drill for oil and gas on federal lands: “In what has become increasingly familiar double-talk from this administration, Interior Secretary Salazar today again spoke of the importance of domestic oil and natural gas, while making it more difficult to produce American oil and gas, put more Americans back to work and help restore our nation’s economy. Under the guise of offering certainty for investors, Interior Secretary Salazar has taken steps to further delay and limit American energy resources for all Americans.” To view the release and full statement, click here.
The American Petroleum Institute issued a news release today stating that the Obama administration has missed an opportunity at its jobs summit by not actively engaging the oil and natural gas industry. During a media teleconference held ahead of the White House jobs summit, API Chairman Larry Nichols and API President and CEO Jack Gerard outlined how the oil and natural industry – which represents 7.5 percent of GDP – is ready, willing and able to create new jobs and provide the energy that America needs to sustain a successful economic recovery. “Clearly, the White House missed an opportunity to include one of the biggest employers and wealth creators in the nation,” said Nichols, who is chairman and CEO of Devon Energy Corp. “The gas and oil industry supports 9.2 million jobs. We know what it takes to create a job, and we know what it takes to preserve a job.” Gerard added: “We are not asking for any handouts. We don’t need stimulus dollars or subsidies. We just need access to develop the resources we will need to fuel this economy, and create thousands of new jobs.” The full release can be viewed here.
The industry released a study Friday that shows that oil sands development in Canada is a boon for the U.S. economy and is expected to lead to the creation of more than 342,000 new U.S. jobs between 2011 and 2015. The study, “Canada’s Oil Sands and Economic Impact on the USA,” was produced by the Canadian Energy Research Institute, a non-profit Canadian energy and environmental research institute. As oil sands production and investment in Canada rises, the study found, demand for U.S. goods and services increases significantly, adding an estimated $34 billion to U.S. gross domestic product in 2015 and $42.2 billion in 2025.
The U.S. oil and natural gas industry supports more than 9 million American jobs and makes significant economic contributions as an employer and purchaser of American goods and services, a new study by PricewaterhouseCoopers found. The study, entitled “The Economic Impacts of the Oil and Natural Gas Industry on the U.S. Economy: Employment, Labor Income and Value Added,” notes that the industry’s total value-added contribution to the national economy was more than $1 trillion, or 7.5 percent of the U.S. gross domestic product, in 2007, the most recent year for which data was available.
This summer, nearly 12,000 Partnership members took action to oppose the Waxman-Markey bill in the House. Unfortunately, the bill passed by a close vote of 219-212. Passage of the Waxman-Markey bill is a disappointment, but we’ll have another chance to prevent this damaging legislation from becoming law. Later this fall, the Senate will begin crafting their version of the energy bill. When the time comes, we will need the voices of the Partnership to let your Senators know these policies are not good for America.
To learn more about how the Waxman-Markey legislation will affect energy consumers and producers in your state, click here.
In a recent letter to Congress, API president and CEO Jack Gerard stresses that, if we are to get America back on the road to economic recovery, it is vital that we meet the energy needs of U.S. consumers today and in the future.
The Gallup organization released a new poll recently showing that for the first time, a majority of Americans believe economic growth should be given the priority, even if the environment suffers to some extent.
The Heritage Foundation published a paper recently, " Obama’s Energy Budget: More Taxes, Higher Prices," by Ben Lieberman and Nicolas Loris, analyzing the proposed Obama budget’s effect on energy prices. Their conclusion: “Despite President Obama's rhetoric about advancing the interests of America's middle class, his policies will cost Americans more money, limit their access to America's energy resources, and provide little, if any, environmental benefit.”
Interior Secretary Ken Salazar stalls offshore development by extending the Outer Continental Shelf Five-Year Plan comment period by 180 days. Read the Secretary’s statement here, and API President Jack Gerard’s response here.
According to a recent study commissioned by the American Petroleum Institute, the U.S. has substantial untapped oil and natural gas reserves. These resources could be accessed—and help our nation’s economy—if Congress allows new exploration. Titled “Strengthening Our Economy: The Untapped U.S. Oil and Gas Resources,” the ICF study estimates that the oil and natural gas resources on federal lands could exceed $4 trillion. Click here to learn more.
Thanks in part to the efforts of many Partnership members, Congress has lifted the antiquated ban on offshore drilling! Click here to read more about the next steps in our efforts to increase domestic drilling.