The warmed-over claim that oil and natural gas companies aren’t using large numbers of leases on public lands is like a Mark Twain line: What’s the difference between a cat and a lie? A cat only has nine lives!

Seriously, here we go again, with the administration claiming (again) that leases in federal areas offshore and onshore aren’t being used. It made similar claims in 2009 and again last year. Politico Pro [subscription required] says this year’s report is basically last year’s with a few updated numbers. Here’s a statement from Interior Secretary Ken Salazar:

“These lands and waters belong to the American people, and they expect those energy supplies to be developed in a timely and responsible manner and with a fair return to taxpayers.”

Let’s be clear: It’s simply fal... more »

Update: The U.S. Senate failed to reach the 60 votes needed to invoke cloture and the motion failed 51-47. (29 Mar 2012)

Today the Senate will vote to advance S.2204 sponsored by Sen. Menendez (D-NJ). This bill will raise taxes on major integrated oil and natural gas companies to subsidize other forms of energy and will do absolutely nothing to lower gasoline prices.

A new poll conducted by Harris Interactive, from March 9-13 of registered voters nationwide, found that 76% of voters believe that increasing energy taxes could increase consumer costs on a wide variety of products, including higher gasoline prices.

American voters overwhelming oppose higher taxes!

Additionally, this bill claims to end alleged “subsidies” for a handful of oil and natural gas companies. However, nothi... more »

With the U.S. Senate getting ready to debate proposals that would raise taxes on American energy companies, the White House blog spins:

"Instead of subsidizing the fossil fuels of the last century by giving away $4 billion of taxpayer money each year to oil companies that are more profitable than ever, we should be investing in a clean energy future—especially when gas prices are high and drivers, whose budgets are already stretched thin, are feeling the pain at the pump."

In reverse order, taking on the White House’s points:

Yesterday’s energy – We thought the administration had shelved this rhetoric, but it’s back – despite government data showing that oil and natural gas not only is today’s energy, it’s tomorrow’s as well. According to the Energy Information Administration m... more »

Monday the White House had a blog post up saying:

“While profits soar, oil companies are receiving about $7,610 a minute in tax breaks.  That’s $4 billion a year of your money.”

During the latest economic downturn, when industries were shedding jobs and limiting spending, the U.S. oil and gas industry was doing the exact opposite.  Over the past few years we supported around 9.2 million U.S. jobs and, when given the opportunity, invested hundreds of billions of dollars into the United States to find new resources and generate the energy that American’s need.  So despite doing everything the Administration looks for in an industry – create jobs, invest in the United States, innovate – it does not appear to be enough.  The false argument now being made is that the industry is someh... more »

Here’s President Obama, campaigning Thursday in New Hampshire, calling for a vote on higher taxes on America’s oil and gas companies:

“We can put every single member [of Congress] on record: You can either stand up for the oil companies or you can stand up for the American people."

Respectfully, Mr. President, this is no it’s-either-us-or-them situation.

America’s oil and natural gas companies are the American people. We support 9.2 million jobs, contribute billions to the national economy annually and provide $86 million a day to the U.S. Treasury.

Even in a tough economic environment, this industry is a job creator, provides stimulus and pays its fair share of taxes – and we can do more. With the right policies our industry could create 1 million new jobs by 2018 and 1.4 mi... more »