The People of America's Oil and Natural Gas Indusry

Energy Today - May 4, 2011

Rayola Dougher

Rayola Dougher
Posted May 4, 2011

Pennlive: Natural Gas Has Vital Role in U.S. Future: The United States needs as much energy as it can produce, and the sooner it's produced the better. Energy demand is not slowing. During the next 20 years, the world's population will climb toward 8 billion people. More and more, people will be seeking a higher standard of living. They will be powering, heating and fueling their homes, their businesses, transportation systems and endless pieces of technology. The realization and acceptance that we need as much energy (and natural gas in particular) as we can produce is not a partisan issue. Recently, President Obama was in Pennsylvania advocating his "Blueprint for A Secure Energy Future." This plan calls for the country to "secure and control our energy future by harnessing all of the resources that we have available and embracing a diverse portfolio" -- including natural gas... We need to continue to embrace the natural gas under our feet -- and develop it responsibly. We are too starved for energy not to. Roll Call: Obama's Stance Hurts American Energy: It is because of these actions by the Obama administration that the Energy Information Administration projects an overall decline in U.S. oil production by 110,000 barrels per day in 2011 and 130,000 barrels per day in 2012. The policies of the Obama administration are costing jobs, decreasing energy production and jeopardizing our national security by deepening our reliance on foreign energy. This is an indefensible energy record, and one that Americans should remember every time they fill up their cars...While the president continues to support this national energy tax, he's also advocating for increasing taxes on American energy producers. Yet the White House has admitted this will do nothing to lower gasoline prices. In fact, it will have exactly the opposite effect -- raising energy prices further when families can least afford it.

Institute for Energy Research: Hydraulic Fracturing -- Is It Safe?: Two studies conducted by the Environmental Protection Agency (EPA) and the Ground Water Protection Council (GWPC)--the national association of state ground water and underground injection agencies whose mission is to promote the protection and conservation of ground water--found that there have been no confirmed incidents of groundwater contamination from hydraulic fracturing.[3] This is particularly noteworthy in consideration of the fact that approximately one million wells have been hydraulically fractured in the United States.[4] Furthermore, according to the Interstate Oil and Gas Compact Commission (IOGCC)--the multi-state governmental agency representing states' oil and gas interests--each IOGCC member state has confirmed that there has not been a case of groundwater contamination where hydraulic fracturing was attributed to be the cause.[5]

The Hill's Congress Blog: Oil and Natural Gas Earnings are Good News for Your Pension: Millions of retired firefighters, police officers, teachers and other public employees with pension plans may get some good news this week, though many of them may not recognize it. In fact, some may be alarmed by it. Newspaper headlines may not say so, but if you're a member of a state pension fund for public employees, the earnings reports from oil and natural gas companies are good news for your future. Newly-released data shows that oil and natural gas companies are driving the gains in public pension funds. If you're a retired teacher in Ohio, oil and natural gas stocks provided your pension funds with a phenomenal 41 percent rate-of-return from 2005 to 2009. The other holdings in the pension fund produced a 9 percent return. The same is true of many public pension funds around the country, according to a new report API commissioned from economic advisory firm Sonecon and conducted by Robert Shapiro, former Undersecretary of Commerce for President Bill Clinton.

Additional Resources:

NewsOK: Oklahoma Business Group Pushes for Increased Oil Production

Automation World: Government Policy Handcuffs Oil Industry

ABOUT THE AUTHOR

Rayola Dougher is senior economist at The American Petroleum Institute (API), where she analyzes information, manages projects and develops briefing materials on energy markets and oil industry policy issues. She is the author or co-author of economic research studies covering a diverse range of topics including crude oil and petroleum product markets, gasoline taxes, energy conservation and competition in retail markets. In addition to testifying before federal and state legislators, she has participated in numerous newspaper, radio and television interviews on a wide range of issues affecting the oil industry, including crude oil and gasoline prices, industry taxes and earnings, exploration and production, and refining and marketing topics.

Prior to joining API, Rayola worked at the Institute for Energy Analysis where her research focused on carbon dioxide related issues and international energy demand and supply forecasts. Rayola holds a Masters degree in Economic Development and East Asian studies from the American University and a degree in History and Political Science from the State University of New York at Brockport.