Another video interview from the State of American Energy event earlier this month in Washington, D.C. Here, Chevron’s Dan Fager talks about the pillars of sound, pro-growth energy policy – new access to U.S. oil and natural gas resources, common-sense regulation and tax policies that encourage new energy investment instead of discouraging it:

“What we shouldn’t do is impose punitive tax increases on the industry. If you want to target tax increases that will result in less investment and less jobs, that’s a negative that will result in fewer of those (energy) developments.”

The video:

The numbers themselves are stop-and-stare huge:

• $127 billion in additional revenues for governments by 2020 from increased domestic oil and natural gas activity.
• $2.5 trillion in cumulative federal, state and local tax receipts to be generated between now and 2035 by America’s shale energy revolution – oil and natural gas from fracking.
• $5.1 trillion in cumulative capital spending by America’s oil and gas companies on unconventional development by 2035 – an energy stimulus lifting the core of the U.S. economy.

We bring these numbers up because as Washington wrestles with its budget problems, America’s oil and natural gas companies can be the solution – adding jobs, economic value and energy to drive the long-term economic and general prosperity of our country. So, what ar... more »

From where he sits – literally, right across Lafayette Square from the White House – the U.S. Chamber’s Tom Donohue sees increased production of domestic oil and natural gas as the ace card in the high-stakes game policymakers are playing concerning the nation’s fiscal health. Energy “is our country’s true cash cow,” Donohue, the Chamber’s president and CEO, told his organization’s board of directors. “Expanding energy development is an extraordinary opportunity for America on so many levels.” He counted the ways:

• More stable and affordable energy supply.
• Manufacturing revival, built on the availability of affordable energy
• Job creation, including employment gains as a result of export markets.
• Strengthened national security due to reduced imports.
• Larger tax base st... more »

Sampling some of the reaction to the Bureau of Land Management’s proposed new regulation of hydraulic fracturing on public lands...

Wyoming Gov. Tim Mead:

“The effect is fewer jobs, less economic development and a dangerous precedent for future regulatory actions.”

The North Dakota Industrial Commission, of which Gov. Jack Dalrymple is a member:

“North Dakota regulations already address disposal of (hydraulic fracturing) flowback. BLM regulations are unnecessary since North Dakota regulations already ensure protection of the environment. Source water is the jurisdiction of the state and should not be monitored by BLM. Since BLM is actively working to minimize any duplication in the reporting requirements, the rule should exempt states that have adopted hydraulic fracturing... more »