Hard to surpass the week on Capitol Hill – when it comes to sketching a pro-development approach to energy that could give major lift to the U.S. economy while helping make our country more energy secure.

On the House side, an Energy and Commerce subcommittee heard experts like Daniel Yergin describe North America’s energy resources (video here and here). Meanwhile, U.S. Sen. Lisa Murkowski of Alaska unveiled a blueprint for greater U.S. energy self-sufficiency by the year 2020. Both provided excellent data and arguments for greater domestic oil and natural gas production that will make our country stronger, more prosperous and more secure. Highlights:

Yergin, vice chairman of IHS CERA:

“The United States is in the midst of the ‘unconventional revolution in oil and gas’ that, it... more »

What are you thankful for? My energy-themed list:

Energy wealth – The United States sits atop some of the world’s greatest oil and natural gas resource deposits, onshore and off (chart). A recent study by IHS Global Insight depicts the game-changing nature of U.S. unconventional oil and gas – trillions in potential new capital spending, job creation and energy production between now and 2035. Combined with more conventional resources the U.S. certainly is energy blessed. Energy wealth means America’s future can be one of prosperity and opportunity instead of scarcity and restrictions.

Oil and natural gas – The greatest energy resources ever discovered and developed have facilitated modern life as we know it. Our world is accessible because of oil and gas. It’s more hospitable because... more »

Editors Note: Today API President and CEO Jack Gerard gave an update on the State of American Energy, outlining a path to success for lower gasoline prices, increased energy security and more American jobs.

Back in January, we reported on the State of American Energy and outlined two paths America could take on energy policy. The first path is to increase oil and natural gas production that brings jobs, energy security and government revenue. The second is to increase taxes on the industry, which would destroy jobs, diminish energy security and reduce government revenue.

We are now seeing Congress begin to debate these two starkly different choices. The administration and some in Congress have weighed in on the side of more taxes, arguing this is necessary in light of higher gasoline price... more »

Americans see politics behind the U.S. Department of the Interior decision to prevent any expansion of oil and natural gas drilling in the Atlantic, Pacific and eastern Gulf of Mexico. According to a public opinion poll conducted by Harris Interactive for API, 63 percent of respondents believe the decision is based on politics; only 30 percent believe the ban is based on science.

"People want the nation to develop its own energy resources rather than increase imports, so any decision stopping that strikes them as illogical and probably political," said API President and CEO Jack Gerard. "If we produce more of our own energy, we create desperately needed U.S. jobs, strengthen our energy security, and produce billions of dollars in tax and royalty revenue for our government. People understan... more »

If you drove during the Thanksgiving Day holiday, you probably noticed that the price of gasoline has increased. Since September, gas prices have climbed several cents per gallon.

Why? API's Monthly Statistical Report for October shows that demand for oil products has climbed, signaling a modest improvement in the economy. As demand rises, it puts upward pressure on the cost of the raw material used to produce gasoline--crude oil.

In the first eight months of 2010, crude oil alone made up 67 percent of the price at the gasoline pump. Refining the crude oil into gasoline and retailing added another 18 percent to the retail price of gasoline. And taxes accounted for the remaining 15 percent.