Posted August 6, 2014
America’s oil and natural gas industry sends an average of $85 million a day to the federal government in the form of taxes, rents, royalties and bonus payments. Averaged over 2007-2012, the industry’s effective tax rate – income taxes paid to governments, divided by pretax income – was 44.6 percent. That’s well above the averages for other industries over the same time period.
We say all that to say this: Attacks that claim the oil and natural gas industry isn’t paying its fair share and/or that it gets special treatment are ridiculous. Industry is paying its fair share and then some – even as it supports 9.8 million jobs and 8 percent of the U.S. economy.
Posted June 20, 2014
Houston Chronicle: Oil, natural gas and coal have boosted living conditions around the globe, but policies to replace those fossil fuels "with inferior energy sources" could undermine those improvements, a former Texas environmental regulator argues.
In a 36-page paper - "Fossil Fuels: The Moral Case" - Kathleen Hartnett White, former chairman of the Texas Commission on Environmental Quality, insists that access to oil, natural gas and coal are inextricably linked with prosperity and well-being.
Policies targeting heat-trapping greenhouse gases - including the Environmental Protection Agency's new plan for throttling carbon dioxide emissions from existing power plants - overlook "the inestimable human benefits of fossil fuels," White says.
"Energy-dense, abundant, versatile, reliable, portable, and affordable, fossil fuels provide over 80 percent of the world's energy because they are superior to the current alternatives," White writes.
Posted February 25, 2014
The energy industry is working for America. A new Manhattan Institute report finds that in the slowly recovering U.S. economy the oil and natural gas industry is creating jobs and generating broad economic stimulus. Top findings:
- While overall U.S. employment has yet to return levels predating the 2008 recession, the number of oil and natural gas jobs has grown 40 percent since then.
- The U.S. energy revolution is almost entirely the result of development by more than 20,000 small and midsize businesses. The typical oil and natural gas firm has fewer than 15 employees.
- Industry jobs are geographically dispersed. Sixteen states have more than 150,000 jobs in the oil and natural gas sector.
Posted January 8, 2014
During Tuesday’s State of American Energy address, API President and CEO Jack Gerard sketched out a more secure energy future for the United States – based on increased access to domestic oil and natural gas reserves, industry technology and ingenuity and a business/investment climate that allows development to go forward.
Let’s focus on that last part, which is less a request for government to do something than simply asking it to avoid hindering safe and responsible energy development through misguided policies and overreaching regulation.
Posted September 26, 2013
The promise of American energy is something we have written about a lot on this blog. From the millions of more jobs the industry could support to the economic lift to local economies, energy benefits are real and tangible.
So a blog post from the Progressive Policy Institute’s Diana Carew caught our attention. Carew highlights the U.S. Investment Heroes report, in which eight of the top 25 U.S. Investment Heroes of 2013 were energy companies. Carew:
“…the sheer magnitude of the investments by these companies means the contribution of the energy sector to economic growth should not be ignored or discounted in the larger conversation… our research found that of the three categories, energy companies were by far making the biggest bet on America’s future.”
Posted April 10, 2013
American Energy has been a positive story these past few years, thanks in large part to big innovations, and big investments made by America's oil and natural gas companies. Thanks to America’s energy revolution, domestic oil production is higher than at any time in the last 20 years, and net imports are at a 20-year low. Meanwhile, natural gas production is at an all-time high, increasing our energy security and lowering emissions. All while the industry is leading the way in job creation during what have been some rough economic times.
The industry is proud to be investing in America’s future, which is why we are puzzled today that the new budget from the White House, again, calls for increased energy taxes that could set back some of the progress we have made.
Posted March 21, 2013
A new Harris Interactive national survey of registered voters finds that big majorities think higher taxes on the industry – as have been proposed by the administration and some in Congress – would be harmful to consumers and the economy. What’s more, respondents believe the idea is fundamentally unfair.
Posted December 14, 2012
Posted April 29, 2011
Posted April 28, 2011