Energy and the Economy
Fueling a “renaissance”: U.S. jobs data show growth in energy, manufacturing
The most recent jobs report may not have met expectations, but the data did show one unmistakable trend: Domestic energy production continues to lift the U.S. economy. The March employment report, released by the Bureau of Labor Statistics, showed the U.S. oil and natural gas industry continuing to grow jobs at a pace faster than the national average. It also provided evidence that expanding supplies of oil and natural gas are fueling a “renaissance” in U.S. manufacturing – everything from automobiles to steel to paper.
U.S. government confirms petroleum product exports not causing higher pump prices
When the price of gasoline increases, so do the misplaced theories that some commentators use to explain the phenomenon. Some, including Fox’s Bill O’Reilly, have charged large integrated oil companies with manipulating the price of gasoline by purposefully taking gasoline and diesel out of the U.S. market. I recently explained why this analysis is wrong, and now along comes independent verification from the U.S. Energy Information Administration.
Energy’s multiplier effect: Oil and natural gas created 9% of new U.S. jobs in 2011
The U.S. oil and natural gas industry helps power Americans’ engines through the fuels it produces. But a new report from the World Economic Forum shows the industry is driving U.S. job creation as well. According to the report, prepared in partnership with IHS-CERA, oil and natural gas production accounted for 9 percent of new U.S. jobs last year.
North America can help deliver a global energy transformation – if leaders do their part
North America stands ready to play a leading role in a global energy transformation through the safe and responsible development of shale natural gas, oil sands and deepwater resources to meet growing energy needs –but it is going to require industry and governments to fulfill their respective roles if these opportunities are to be maximized. ExxonMobil Chairman and CEO Rex Tillerson delivered this important message at a keynote address yesterday at CERAWeek in Houston.
Removing the disconnect between talk and action on energy policy
Let’s be clear: The U.S. oil and natural gas industry does not receive special “subsidies” or “preferences.” Such claims simply don’t accord with the facts. The fact is that what some call “subsidies” are legitimate provisions of the U.S. tax code that treat our industry the same as other industries. The efforts to prevent oil companies from accessing these provisions achieve nothing but raising the tax burden on the companies that find, produce and manufacture the fuels that are the foundation of the U.S. economy.
Moving beyond the rhetoric on gas prices
As I’ve said before, consumers are understandably frustrated by higher gasoline prices – but no one benefits when discussion about this issue ignores the facts for political reasons. In the Washington Post earlier this week, commentator Charles Lane asks Americans to “Please, everyone, just ignore this blather” when it comes to political grandstanding about gasoline prices. Instead, he says to take a look at what’s really driving the rise in gasoline prices …
