Update: The author has changed the article, without noting so. Original article here. The new article suffers from many the same problems in that it fails to note that the majority of the money involved is through government efforts to lower prices in developing countries.  As the IEA notes ending this support will shift "the burden of high prices from government budgets to individual consumers…" and that “…low-income households are likely to be disproportionately affected by the removal…”

We see a lot of false arguments about “subsidies” for the oil and natural gas industry, but this tweet caught us by surprise:

First, as we have to explain every time, the oil and gas industries don’t get tax credits (which reduce taxes dollar for dollar) or grants from the government. They get t... more »

The future is going to require a lot of energy, of all kinds. World energy consumption is projected to grow nearly 50 percent by 2035. Renewable energy is projected to increase by nearly 200 percent by 2035 over 2008, thanks to leadership and investment from our own industry and others.

As energy needs grow, our energy supplies will need to grow with them. That will include a robust renewable energy sector. But the Energy Information Administration projections show that renewables will meet only about 13 percent of the nation's energy needs in 2035, with oil and natural gas supplying about 55 percent. For the sake of our future, we need renewable energy technology to grow. But, for the sake of our economy, oil and natural gas will remain a key part of our energy sector for decades to come.... more »

(Editor's note: Earlier today, American Petroleum Institute President and CEO Jack Gerard responded to the President's budget proposal to raise taxes on the oil and natural gas industry which would harm job creation and lower government revenues long term. Below is the text of his statement.)

"It's no surprise the administration is proposing yet again to raise taxes on the U.S. oil and natural gas industry. But it's still a bad idea and comes at one of the worst times in our economic history. The administration continues to ignore the fact this industry is among the nation's largest job creators and delivers enormous revenues to government at all levels. The industry pays income taxes, royalties and other fees totaling nearly $100 million every day and pays income tax at an effective r... more »

The President raised the issue of taxes on the oil and natural gas industry in his State of the Union speech, and we fully expect they will be part of the budget he will release next week. He also referred to the oil and natural gas industry as "yesterday's energy" and suggested increasing taxes on our industry to pay for investments in tomorrow's energy. While it's not news that we disagree with the President on this point, we believe the administration's approach on taxes is misguided, misleading and simply bad public policy. So, we think it's critical that we address misperceptions around these issues. Such as:

• That our industry is awash in unfair government subsidies; when the fact is that we provide more than $95 million per day to the federal treasury; pay an effective tax rate far... more »

This afternoon the Wall Street Journal's Washington Wire posted about our "i'm one" ads in the Capitol South Metro Station. The post also profiled American Wind Energy Association ads running in Metro. While we appreciate the coverage, we must take issue with the final paragraph: "The two trade groups say their back-to-back appeals were coincidental. But the two industries are in competition for federal dollars. In his most recent State of the Union address, which coincided with the API's campaign, President Barack Obama proposed a $4 billion cut to oil and gas subsidies to help pay for clean energy initiatives that could benefit the wind energy industry, among others."

We wish AWEA the best of luck in building their industry --our economic future will depend on energy from all sources--... more »