Just a thought, but how great would it be if one of this fall’s presidential debates focused solely on energy issues?

Past presidential debates have discussed the economy and jobs, national security and foreign policy, and of course all of those are important. Yet, when you think about it, energy is the nexus where all come together.

Energy runs our economy, literally, and the quest for it supports millions of jobs and could create hundreds of thousands more. Our need for reliable, affordable energy figures prominently in national security and foreign policy decisions. An America that meets most or all of its energy needs here at home would be safer, its prosperity less vulnerable to geo-political developments.

So, when the people who decide the topics for this year’s presidential... more »

The warmed-over claim that oil and natural gas companies aren’t using large numbers of leases on public lands is like a Mark Twain line: What’s the difference between a cat and a lie? A cat only has nine lives!

Seriously, here we go again, with the administration claiming (again) that leases in federal areas offshore and onshore aren’t being used. It made similar claims in 2009 and again last year. Politico Pro [subscription required] says this year’s report is basically last year’s with a few updated numbers. Here’s a statement from Interior Secretary Ken Salazar:

“These lands and waters belong to the American people, and they expect those energy supplies to be developed in a timely and responsible manner and with a fair return to taxpayers.”

Let’s be clear: It’s simply fal... more »

Here’s the president talking about job creation Tuesday in Albany, N.Y.:

“Now, we know the true engine of job creation in this country is the private sector – it’s not Washington.  But there are steps we can take as a nation to make it easier for companies to grow and to hire, to create platforms of success for them -- everything from giving more people the chance to get the right training and education to supporting new research projects into science and technology.”

Sounds good. On job creation the private sector definitely is where it’s at. America’s oil and natural gas industry supports 9.2 million U.S. jobs and could do more – 1.4 million new jobs by 2030 with the right policies, according to a study by the Wood Mackenzie energy consulting firm.

Unfortunately, as the presi... more »

Check out this informative post by Forbes’ Christopher Helman, who notes that Nos. 1, 2 and 3 on the magazine’s list of companies that paid the most in income taxes in 2011 were … energy companies.

That might surprise some people, given White House rhetoric about oil and natural gas companies not paying their “fair share.” It turns out Big Oil is the country’s Biggest Taxpayer. Here’s how Forbes’ data looks in a chart:

As you can see by the blue line, ExxonMobil ($27.3 billion), Chevron ($17.4 billion) and ConocoPhillips ($10.6 billion) occupy the top three spots in Forbes’ income-tax-paying ranking. Occidental Petroleum comes in at No. 18 ($2.9 billion).

Now check the chart’s red line. It shows that all four energy companies’ effective tax rates topped 40 percent – ExxonMobil 4... more »

According to the Pew Research Center the top two public priorities for 2012, by large margins, are the economy and job creation.  So surely the White House has a plan, and they do.  And with a slight modification of the chart posted by TPM the other day, here it is:

More on higher energy taxes here and here, and why that growth line should be higher here.