Fuel Fix: Stakes For Tuesday's Senate EPA Vote Run As High As 1.4 Million Jobs: How can Obama tout exploration off the coast of Rio de Janeiro when he's stood in opposition to the same activity off of our own shores? A similar question stems from this week's political battle over EPA regulation. How can the administration and its allies claim jobs and the economy as their top priorities while allowing federal regulators to impose what would amount to, as TIME magazine put it, "the most far-reaching environmental regulatory scheme in American history." According to analysis by the American Council for Capital Formation, EPA's greenhouse gas rules at would cost America 46,000 to 1.4 million lost jobs and $25 billion to $75 billion in lost capital investment by 2014. Such losses prompted The... more »
FuelFix: API: White House is stopping domestic oil and gas production: The American Petroleum Institute is circulating a graphic that aims to highlight what the trade group says is a series of Obama administration decisions that are thwarting domestic oil and gas development. The document, which will be circulated on Capitol Hill, represents the latest attack by API, which has taken an increasingly adversarial role fighting the administration's energy policies. With images ripped from the roadway, API argues that the administration "has taken specific steps to stop or delay the development of domestic oil and natural gas resources." According to the trade group, those include: The Interior Department's decision not to proceed with a Bush-era plan for leasing the outer continental shelf tha... more »
The American public is understandably worried about the price of gasoline and overwhelmingly rejects raising those prices higher through new energy taxes, instead supporting increasing domestic production of oil. Of course, when the public gets worried, public officials get worried and have correspondingly ramped up the production of...politics.
First came the political messaging that current administration policies have improved our energy outlook, but that, um, turned out not to be true. So then in change of tactics we are presented with the absurd notion that oil companies are not interested in producing oil. Again, no, no, and no.
The fact is from the very beginning, the current administration has taken specific steps to stop or delay the development of America's domestic oil and natu... more »
Chicago, called the City of Broad Shoulders, has a lot to be happy about these days. At a time when many Americans are watching oil markets closely, Chicago residents can take comfort in knowing that about 60 percent of their oil supply comes from Canada.
Today, more than 2 million barrels of Canadian oil is imported to the United States every day, and some of it travels by pipeline to refineries in the Midwest where it is refined into oil products such as gasoline. If the State Department approves the construction of the Keystone XL pipeline soon, Canadian oil will be transported all the way to refineries on the Gulf Coast, creating jobs and vastly improving U.S. energy security.
Yahoo Finance: Petro chief: Drill to solve economic woes: An all-out push for domestic oil and natural gas production could create hundreds of thousands of new jobs and provide much-needed fiscal relief to budget-pinched states, the head of an energy trade group said Thursday. At a meeting of the Louisiana Mid-Continent Oil and Gas Association, American Petroleum Institute chief executive Jack Gerard called shale finds of natural gas "the game changer" in U.S. energy policy. Gerard said natural gas drilling and production in the huge Marcellus Shale find had created 57,000 direct jobs in Pennsylvania and West Virginia. With scores of gas and oil shale formations discovered nationwide, Gerard said full exploration and production could create up to a million new jobs and provide additional g... more »