(Editor's note: API President and CEO Jack Gerard announced a series of rallies being scheduled in several cities in September, giving Americans a forum where they can voice their concerns about jobs and the economy. A portion of his prepared statement appears below.)

"I am officially announcing that API will host additional citizen rallies starting early next month in conjunction with other local and national groups. We'll be taking the lead on the rallies, but we are partnering with local energy and business groups in every location. We're kicking off the program with three rallies in Texas on September 1st, and we are now finalizing plans for rallies in Ohio, Illinois, Colorado and New Mexico.

"The focus of the rallies will be jobs and the economy. U.S. unemployment is high, and t... more »

The Senate bill unveiled today by Majority Leader Harry Reid moves forward with provisions that will cost American jobs, slow economic growth and will place our energy security at risk.

While full details of the Senate bill are not yet available, the liability provision sticks out as a jobs killer. Requiring an unattainable level of insurance coverage for domestic energy producers on the Outer Continental Shelf will force the vast majority of American companies out of U.S. waters, according to insurers.

This would cut domestic production, kill American jobs, slow economic growth and cost billions in federal oil and natural gas revenues.

Even those that could self insure operations would see costs skyrocket, driving investments out of the United States, further hurting our economy, employm... more »

The Senate Environment and Public Works Committee yesterday voted to remove the liability cap on damage claims stemming from oil spills. The proposal could be one of several provisions cobbled into an energy and climate bill that could be considered by Congress in the wake of the Deepwater Horizon accident.

In a news release, API warned that the elimination of liability limits could make insurance unavailable for domestic energy development in the Gulf. More than 100 U.S. companies would be forced out of the exploration and production business, which could destroy jobs, harm economic growth and put U.S. energy security at risk.

API President and CEO Jack Gerard said:

"...legislative proposals that would make domestic resources unavailable or uneconomic, instead of focusing on improving s... more »