Two more CRA International studies have been released, citing the likely economic impact of the Waxman-Markey bill. They show that the bill, if enacted, would reduce the number of jobs and lower purchasing power in both Ohio and New Mexico.

In Ohio, CRA International's analysis of the House-passed climate bill showed that as many as 114,100 jobs would be wiped out, and the average household's purchasing power would be reduced by as much as $1,070 a year.

In New Mexico, as many as 18,900 jobs would be eliminated by the Waxman-Markey bill, and the average household would lose as much as $1,230 in purchasing power every year.

Both states also would see tax receipts decline dramatically, which could take away funds for education, health and safety programs. Tax revenues in Ohio would shrink by... more »

This week marks the 150th anniversary of the first successful oil well drilled in the United States. In 1859, Col. Edwin Drake drilled down to a depth of 69½ feet near a creek in Pennsylvania where oil naturally seeped out of the ground and in the process, he changed the American way of life.

Before "Drake's Folly" proved that oil could be produced by drilling, Americans used wood and coal for heat and a variety of fuels for lamps, including whale oil. As API Chief Economist John Felmy recently pointed out, in 1850 consumers could use camphene, also called "burning fluid," at the cost of 50 cents a gallon; whale oil, which cost $1.30 to $2.50 a gallon; lard oil at 90 cents a gallon; or coal oil, which cost 50 cents a gallon. Some have speculated that Col. Drake's drilling technology saved... more »

In a move to improve U.S. energy security, the U.S. State Department today issued a Presidential Permit to Enbridge Energy, Limited Partnership allowing the construction of the Alberta Clipper pipeline. This pipeline--which will be built on an existing Enbridge right-of-way--will bring a steady supply of Canadian crude oil to refineries in the United States.

As the State Department's announcement explained, the Alberta Clipper pipeline will help the United States by "shortening the transportation pathway for crude oil supplies and increasing crude oil supplies from a major non-Organization of Petroleum Exporting Countries producer. Canada is a stable and reliable ally and trading partner of the United States, with which we have free trade agreements which augment the security of this energ... more »

As Energy Citizens are preparing to rally in North Carolina, a new study shows that as many as 87,000 jobs could be wiped out in the state if the House-passed climate bill becomes law. The study also projects that the average North Carolina household would see its purchasing power fall by as much as $840 a year, and the state domestic product would fall by 1.6 percent. The impact on the state's economy could be devastating as tax revenues shrink, taking away much-needed funds for schools, police and fire departments, and hospitals.

The study by CRA International analyzes the impact of the Waxman-Markey climate bill, which was narrowly approved by the House of Representatives in June. This fall the Senate will debate its version of a climate bill.

CRA International's findings also indicate... more »

For those of you who couldn't attend yesterday's Energy Citizens rally in Houston, we've posted a video about the event. As you'll see, the crowd donned the yellow T-shirts passed out at the door, waved signs and listened intently to the speakers.

It was obvious to me that the 3,500 participants were very sincere in their concern about the House-passed climate bill on their jobs and their families. As I walked through the crowd, several people had stories to tell.

Eric, for example, was worried about American jobs being exported overseas as a result of the Waxman-Markey legislation. He mentioned that India recently built a huge refinery with the sole purpose of exporting petroleum products. He wondered about the future of U.S. refining and how the bill could affect the economy.

Kristen sa... more »