With just a few days to go before one of the most highly-contested mid-term elections in U.S. history, Americans are taking a hard look at the candidates and the issues before heading to the polls. Whether they are Republicans, Democrats or Independents, voters recognize the election's importance in framing fiscal policy, as well as energy and environmental issues for the next two years.

Numerous energy and environmental issues are likely to be affected by the election results. They include such controversial policies as the Environmental Protection Agency's (EPA) proposed greenhouse gas (GHG) regulations and the ongoing debate over domestic oil and natural gas production. Each is important to the nation's future and to the well being of every American family.

We'd like to know which of th... more »

This week, the American Energy Alliance issued a new report quantifying the dire impacts of proposals aimed at hiking taxes on oil and natural gas companies.

Authored by Louisiana State University economist Dr. Joseph Mason, the report found that two tax proposals, the repeal of Section 199 and the repeal of the "dual capacity" provision--which enables all U.S. companies to operate and produce goods and services in other countries without having their profits taxed twice--would destroy jobs and weaken the U.S. economy.

The study, The Regional and National Economic Impact of Repealing the Section 199 Tax Deduction and Dual Capacity Tax Credit for Oil and Gas Producers, found that although the tax proposals are directed solely at the oil and natural gas industry, they could cause:

• 154,000 l... more »

Americans get it. With their appreciation for freedom, opportunity, and fairness, they instinctively know that legislative proposals to raise taxes on some companies but not others are bad for business and bad for consumers. And yet, some of the people who've been elected to public office insist on trotting out new tax proposals that strain the American sense of fair play.

Sen. Max Baucus (D-Mont.), for example, wants to prohibit the five largest oil companies from using a standard tax deduction. The Senate Finance Committee, which Sen. Baucus chairs, says the deduction's goal--to encourage the production of more domestic energy--hasn't been met.

Never mind that companies aren't allowed to drill in many of America's most energy-rich areas. Never mind that oil companies already have an effe... more »

With time running short, the Senate postponed its consideration of an energy bill this week - a "spill bill," as some called it. Now members of the Senate and various lobbying groups are engaging in finger-pointing and blaming each other for the bill's delay.

H. Sterling Burnett, writing in The Hill, says part of the problem was the sales pitch used to push for passage. "Though the Senate's energy bill had nothing to do with the safety of offshore oil rigs, the green lobby tried to link the two in the public's mind. Fortunately, neither the public nor, ultimately, many senators were buying it," he writes.

In API's view, the bill had several flaws. Areas of concern included provisions that would have:

Michael Bromwich, director of the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEM), refused to give a date for ending the offshore drilling moratorium yesterday. In New Orleans at the first of eight public hearings on drilling safety, Bromwich only said "there will be a very serious, sustained effort" to shorten the moratorium. (AP)

API's Holly Hopkins attended the hearing and reported that many speakers supported a swift end to the administration's drilling freeze:

• Rep. Joseph Cao (R-LA) argued that BOEM is not being efficient in issuing shallow-water drilling permits and isn't adequately addressing the need for the moratorium;

• David Camardelle, the mayor of Grand Isle, recalled that President Obama said he would end the moratorium when the well was capped. No oil... more »