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 »

Several activities are underway today that could have a significant impact on America's energy policy. They include congressional efforts to pass energy legislation as well as the killing of the leaking Macondo well.

Today the U.S. House of Representatives is expected to vote on the Consolidated Land, Energy, and Aquatic Resources Act of 2009 (CLEAR) Act. This bill is purported to be a response to the Gulf oil spill, but it reaches far beyond the accident.

If passed, it would impose higher energy taxes, require the federal takeover of state offshore waters, restrict offshore energy development and remove the liability cap on oil spill damages, which would exclude small- to mid-size energy companies from operating in the Gulf.

The bill is a jobs killer and API opposes it. The House is likel... more »

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 »

What if Congress and the administration approve many of the deepwater drilling measures that are now being debated? And what if their actions result in unlimited liability for oil spills, additional regulations on well and rig designs, higher taxes and fees and an extended moratorium that cancelled drilling projects?

The economic impacts could be dire.

A new analysis by API economists shows that the moratorium, if continued indefinitely, or similar proposals which would make deepwater development unavailable or uneconomic would cost this country 175,000 jobs every year between now and 2035. Over the long term, it also would reduce U.S. oil production by 27 percent and would likely increase oil imports by 19 percent.

API President and CEO Jack Gerard told reporters today:

"Legislation that... more »

Editor's note: In a Roll Call op-ed that ran today, API President and CEO Jack Gerard urges Congress not to make hasty, legislative and regulatory decisions following the Deepwater Horizon incident that could unfairly penalize oil and natural gas companies. Jack's comments are below:

The oil spill in the Gulf of Mexico has created understandable new concerns over offshore oil and natural gas operations, and Americans are right to demand assurances that offshore operations are safe and not detrimental to our environment.

The oil and natural gas industry understands that, and our pledge from the very beginning has been to work day and night to help BP stop the leak, clean up the spill and find out what happened so we can put in place lasting solutions. Only then can Americans once again have... more »