Rather than deal with the Gulf oil spill in a reasoned fashion, the administration and some in Congress have put forth a barrage of political proposals that could jeopardize jobs and domestic energy production, and deal heavy blows to the economy overall.

Seemingly aimed at preventing a similar accident, these proposals--a six-month moratorium, unlimited liability and tax increases--will do nothing to promote offshore drilling safety. Instead, they could threaten hundreds of thousands of U.S. jobs, cost billions in government revenue and royalties, and limit a major part of the nation's energy lifeline.

When asked recently about the most important issue for the federal government to address, people emphatically responded, "jobs" and "the economy." So why are policymakers ignoring what peop... more »

Two separate studies indicate that tens of thousands of Gulf Coast jobs and billions of dollars in economic growth are likely to disappear as a result of the administration's deepwater drilling moratorium and the leaking well.

A report by Moody's Analytics shows the Gulf Coast region could lose 17,000 jobs and $1.2 billion in economic growth by the end of the year under a scenario in which the well is permanently shut-in in August. Under a worst-case scenario, the economic cost could reach $7.4 billion and more than 100,000 jobs could be lost if the well continues to leak and the moratorium lasts through December.

Marisa Di Natale of Moody's Analytics says Louisiana and Florida are likely to be the hardest hit. "We're talking about a very localized impact," she told reporters in a conferen... more »

Jobs continue to be one of the main topics of conversation in Washington. API's President and CEO Jack Gerard explains the oil and natural gas industry's potential as a jobs creator in the video below:

And a published report in Politico today indicates that jobs bills are likely to be taken up by the U.S. Senate in coming weeks. The House passed a jobs bill in December.

The U.S. oil and natural gas industry could help to create hundreds of thousands of new jobs if it were given the opportunity--with no handouts and no stimulus. It just needs a sensible energy and tax policy that encourages domestic energy production.