There have been numerous reports published over the last few months about the impact of the administration's de facto drilling moratorium on jobs and the economy in the Gulf region. The latest report released yesterday is authored by LSU professor Dr. Joseph Mason who finds that the Gulf region will lose more than 19,500 jobs, $5 billion in economic activity and nearly $240 million in state and local tax revenues during the six-month moratorium.

It's important to note that the 19,536 job loss estimate from Mason's report is 40 to 60 percent higher than the 8,000 to 12,000 jobs lost that the Obama administration estimated earlier this month, reflecting a significant difference between the two studies.

In the report, Dr. Mason is critical of the administration's analysis:

The Inter-Agency... more »

The front page of The Washington Post today bears the headline, "Recession is officially over, but anxiety lingers." The headline is based on an announcement by the National Bureau of Economic Research which yesterday proclaimed that the recession, which began in December 2007, met its technical end in June 2009.

Many Americans don't agree with the bureau's assessment. A Fox News survey says 88 percent of Americans believe the recession is still underway. In Grand Junction, Colo., for example, where the unemployment rate has mirrored the national jobless figure, many residents are feeling battered by job losses and over-regulation by the state and federal governments. Several residents volunteered to share their economic stories on video tape during a recent Rally for Jobs:

In Canton,... more »

The Macondo well that released an estimated 4.9 million barrels of oil into the Gulf of Mexico has been killed.

The well, which had been shut-in since July 15, was intercepted by a relief well on September 15. Two days later, cement was pumped into the well's annulus forming a plug. After tests confirmed the strength of the plug yesterday, Retired Coast Guard Adm. Thad Allen pronounced the well "effectively dead."

BP America Chairman and President Lamar McKay issued statement calling the kill "a significant technological accomplishment." He added, "BP will continue sharing what we have learned in an effort to prevent a tragedy like this from every being repeated."

Killing the well is not the end of the Deepwater Horizon saga. Numerous challenges remain along the Gulf Co... more »

Earlier this month, thousands of Americans came together to Rally for Jobs and tell Congress and the administration to support smart energy policies that protect American jobs, stimulate economic growth and keep American energy affordable and reliable.

Beginning today and until the end of the week (September 20-24), API is holding the National Virtual Rally for Jobs to take the message and rallies straight to lawmakers in Washington with a virtual march on the national mall.

The message to Congress is simple: Americans want jobs, not taxes!

• They want smart energy policies that promote domestic resources;
• They want smart energy policies that protect and create jobs; and
• They want smart energy policies that preserve and enhan... more »

Do you know the definition of piling-on? It's the phenomenon that occurs when several actions or events land on your shoulders all at once. While the weight of the pile usually isn't insurmountable, it can be challenging and often makes one wonder about the motivations of those who add to the heap.

The oil and natural gas industry has been experiencing a situation in which the government seems to be engaging in piling-on. During the past several days:

• The administration announced a plan to sharply raise the fees for offshore rig and platform inspections;
• The president announced an infrastructure rebuilding program to be funded by higher taxes on the oil and natural gas industry;
• The president asked Congress to permanently cancel $50 million for a deepwater drilling research and developme... more »