Over the next couple of weeks, oil and natural gas companies will be releasing their fourth quarter and 2010 year-end performance reports. While a lot of attention will be focused on the numbers, some perspective is needed to better understand the size of the industry, how the industry's earnings compare to other industries, where the money is going, and who benefits.

The oil and natural gas industry is one of America's largest industries. It has to be to effectively compete for global energy resources. The industry's earnings make possible the huge investment necessary to help ensure America has the energy we need to heat our homes, get to work, transport our goods and make all our lives better. The earnings allow companies to reinvest in the facilities, infrastructure and new technologie... more »

On this blog, we strive to provide an informative, timely and fair discussion about a variety of energy-related topics. In the spirit of those ideals, I recently came across another energy discussion forum on Chevron's website--willyoujoinus.com.

Since launching the discussion area in September, willyoujoinus.com is now hosting eight different energy discussion areas that range from access to alternative energy, providing an outlet for everyone to discuss these important issues.

For example, user "jgotthold" offered this information about alternative energy projects to the discussion:

"On almost a daily basis, scientists announce some nanotechnology breakthrough which has the potential to improve fuel cells, hydrogen storage, wind power development, tidal wave development and all the oth... more »

Members of the U.S. Senate met with President Obama at the White House Tuesday to discuss next steps for energy and climate legislation. In a statement, the White House called the meeting "constructive" and released information about the president's comments:

"The President told the Senators that he still believes the best way for us to transition to a clean energy economy is with a bill that makes clean energy the profitable kind of energy for America's businesses by putting a price on pollution - because when companies pollute, they should be responsible for the costs to the environment and their contribution to climate change."

Notice that the stated strategy is to make clean energy profitable. This statement acknowledges that "clean energy" isn't profitable now. The fact is that so... more »

The Energy Information Administration (EIA) has released the latest edition of the agency's long-term assessment of world energy markets--the International Energy Outlook 2010 (IEO2010).

Among the points stressed in the report are that world energy consumption is projected to grow nearly 50 percent between 2007 and 2035; and while growth of renewable energy sources is brisk, fossil fuels will meet nearly 80 percent of total energy needs in 2035.

Also, the report says that China and India are expected to more than double their combined energy use by 2035--accounting for roughly 30 percent of world energy use.

Other highlights include:

• World natural gas consumption will increase 1.3 percent per year, from 108 trillion cubic feet in 2007 to 156 trillion cubic feet in 2035. Tight gas, shale g... more »

Today's debate over energy policy is often defined as an either/or proposition: Either the nation embraces and invests in renewables, or it continues to rely on fossil fuels such as oil and natural gas.

Against this confrontational backdrop, it's refreshing to hear from someone who takes a holistic approach to energy policy and injects some common sense into the discussion.

Enter John Felmy, API's chief economist, and the author of a guest post at New Energy and Fuel. In a few short paragraphs, he discusses the benefits and possible shortcomings of various forms of energy and suggests a path that makes sense for America:

"This nation needs a rational energy policy. Yes, we'll need energy efficiency. Yes, we'll need alternatives, but we're going to need more oil and natural gas as well. W... more »