This afternoon API's President and CEO Jack Gerard delivered a speech focused on the reality of America's energy policy. Speaking at the Annual State of the Energy Industry conference sponsored by the United States Energy Association, Jack laid out the facts about the U.S. oil and natural industry and its contributions to the economy. He noted:

• Oil and natural gas supply 63 percent of the nation's energy and represent more than $1 trillion of the country's economic activity;

• The industry directly employs or supports 9.2 million American jobs and created 2 million jobs between 2004 and 2007;

• The industry invested more than $58 billion on carbon mitigation technologies between 2000 and 2008, more than either the federal government or the rest of private industry combined; and

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Considering unemployment is at its highest level in almost 30 years, "you'd think the Obama administration would do everything possible to save existing jobs and create new ones," says op-ed author Jim Constantopoulos, a professor of Geology at Eastern New Mexico University in his recent Sun-News op-ed.

Constantopoulos also says the administration's failure to invite the oil and natural gas industry to the recent White House Jobs Summit was "like calling for an increase in food production and not inviting wheat and corn farmers."

We agree. America's oil and natural gas industry employs or supports a total of 9.2 million U.S. jobs and provides energy that heats U.S. homes, fuels factories and offices, and gets people to home and to work. It also adds more than $1 trillion to the national ec... more »

With the beginning of a New Year, it's a good time to take a moment to review energy and energy policy in the United States. In this week's episode, I interview John Felmy, API's manager of statistics.

Use the audio player below to listen to information about the article and follow along with the show notes. I hope you find the podcast informative.

Show Notes:

00:18 It's the beginning of a New Year and the perfect time to take a moment to examine energy and energy policy in the United States.

00:44 (In response to higher energy prices) What we have seen is worldwide economic growth to pick up; so demand for oil around the globe, in places like China, has increased. We have also seen the major international agencies, such as the International Energy Agency (IEA) and Energy Informat... more »

Just 10 miles off the coast of Louisiana, a New Orleans company has made one of the largest Gulf of Mexico energy discoveries in decades. McMoRan Exploration Co. reports that its ultra-deep well in its Davy Jones prospect was drilled in shallow water--only 20 feet deep--down to more than 28,000 feet beneath the ocean floor where the company found huge amounts of natural gas in a 135-feet thick sand formation.

The Houston Chronicle reports that the size of the discovery ranges from 2 trillion to 6 trillion cubic feet of natural gas. And it's believed the discovery will encourage more exploration in shallow waters close to shore where drilling has been occurring for nearly 100 years.

President of the Louisiana Oil and Gas Association Don Briggs told The Times-Picayune that there's an incorre... more »

A recent Patriot-News op-ed authored by Michael Whatley of the Consumer Energy Alliance calls Pennsylvania's proposal to adopt a Low-Carbon Fuel Standard (LCFS) "nothing more than a flawed bait-and-switch energy policy."

Whatley warns of the negative consequences of a LCFS, including the loss of thousands of well-paying jobs and greater dependence on foreign energy. He adds that a LCFS is an attempt to reduce the importation of Canadian oil sands, which provide a significant portion of the nation's crude oil:

"Just because America won't be buying up Canadian oil anymore doesn't mean that China and India won't. And the added energy and emissions required to ship that oil halfway around the world adds up quickly...Guess who's left footing the bill in this scenario? Consumers and the U.S. eco... more »