In a speech today at the Brookings Institution in Washington D.C., President Obama outlined a series of job creation ideas and called for using some of the $200 billion in the Troubled Asset Relief Program (TARP) to help pay down the $1.4 trillion budget deficit and "create fiscal room for job creation programs."

While we agree with the President that getting Americans back to work is a top priority, the oil and gas industry, which supports 9.2 million American jobs, stands ready to create even more good jobs--without the need of TARP money, subsidies or other government handouts. All we need are sound government policies that encourage--not discourage--the development of our domestic resources.

We also agree our country needs more jobs, including green jobs. America's oil and gas industry... more »

The administration recently held a Jobs Summit to help determine the best way to put Americans back to work as quickly as possible. Today, API chairman and Devon CEO Larry Nichols authored an op-ed in The Hill that discusses how the U.S. oil and natural gas industry can be a part of the jobs solution.

The U.S. oil and gas industry is one of the largest employers in the country, supporting more than 9 million well-paying jobs including many green jobs. From 2004-2007 alone, the industry created 2 million new jobs. If Congress and the administration provided increased access to America's own oil and natural gas resources on federal lands, the industry could create 160,000 new jobs while generating more than $1.7 trillion in government revenue.

Canadian oil sands development and the developme... more »

The Harris Poll this week released the results of a survey showing that those who believe the release of greenhouse gases (GHGs) is affecting the climate has dropped from 71 percent two years ago to only 51 percent now.

The survey, conducted online between Nov. 2-11 by Harris Interactive, also shows that the percentage of respondents who do not believe that carbon dioxide emissions will cause global warming has increased from 23 percent to 29 percent since 2007.

"The sharp drop in those who believe that greenhouse emissions will cause global warming will make it harder for leaders to introduce new policies to promote alternative energy sources and reduce our carbon footprint," says the news release. It adds that sharp differences between the attitudes of Democrats and Republicans also will... more »

Although the oil and natural gas industry was not invited to the White House Jobs Summit yesterday, API today unveiled a legislative proposal that could create hundreds of thousands of jobs.

Among the provisions contained in the legislation are proposals to:

• Repeal the moratoria on oil and natural gas development in the Eastern Gulf of Mexico;
• Require the Interior Department to hold a lease sale in certain Eastern Gulf areas where natural gas is known to exist within one year of passage;
• Provide assurances that the 2010-2015 offshore five-year leasing plan will move forward; Authorize leasing within the Arctic National Wildlife Refuge (ANWR);
• Establish revenue sharing beginning in 2017 for coastal states with production off their coasts thereby providing them a portion of the royalty pay... more »

API's President Jack Gerard and Devon's CEO and Chairman Larry Nichols called the White House Jobs Summit a "missed opportunity" during a conference call with reporters this morning, and wondered why the oil and natural gas industry was not invited.

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

Yet, Larry said today that despite the fact that the industry asked to attend today's Jobs Summit, he was not aware of anyone from an oil and natural gas trade association or a traditional energy company who had been invited.

With more than 15 million Americans unemployed today, the i... more »