Last week, API hosted a blogger conference call to follow up on President Obama’s State of the Union remarks. API Senior Tax Policy Advisor Brian Johnson and Chief Economist John Felmy laid out steps that can move the country beyond pronouncements to energy policies that will help us meet rising global energy demand. From Felmy’s opening statement:

“I know the conventional wisdom in Washington is that you can’t get anything done in an election year. Yet on some key energy issues, the president actually could get a lot accomplished that would advance his call for more American oil and gas.”

So, what can be done this year? The president could approve the Keystone XL pipeline, take steps to reverse declining oil and natural gas activity on federal lands in the West, add more offshor... more »

There were lots of energy mentions in the president’s State of the Union speech, and we appreciate every one of them because they likely will stimulate increased discussion of energy issues in our country. In that way we join the president in trying to make more Americans aware of the country’s stake in energy  – in terms of jobs, economic growth and security.

We agree with a number of things the president said. Indeed, the men and women of America’s oil and natural gas companies already have been working in many of the areas mentioned by the president. And they’re willing to do more.

The president said:

“This country needs an all-out, all-of-the-above strategy that develops every available source of American energy …”

Absolutely. The United States will need all available ene... more »

The American oil and natural gas industry is one of the few sectors that have remained healthy throughout most of the recent recession. We can help create the jobs Americans need and supply domestically the energy Americans use -- all while helping address federal deficits. In short, we can help policy makers achieve their stated goals and objectives. But the only way we can do this is if our government sets aside antiquated assumptions and disproven myths. And if they are open to the reality that America's oil and natural gas companies can be a significant part of the answer.

President Obama recently called on Americans to "win the future." In his State of the Union address, he challenged U.S. industry to create jobs, invest in technology and innovation, and lead alternative energy development.

We're on it. America's oil and natural gas industry has long been meeting these challenges--and with the right policies encouraging private-sector innovation and investment, we're ready to do more to win the future:

• The industry already supports 9.2 million U.S. jobs, and we could create more.
• Our companies are technological innovators, having invested hundreds of billions of dollars over the last decade.
• The industry has invested more than the federal government and more than all other industries combined in low- and zero-carbon emission energy technologies.

Despite t... 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 »