EnergyFactor By ExxonMobil | Pespectives has a new home

Energy and the Economy

For hundreds of shipyard workers, business leaders, and elected officials in Pennsylvania, today was a big day. They celebrated the new jobs and economic investment that will result from ExxonMobil-affiliate SeaRiver Maritime Inc.’s agreement with Aker Philadelphia Shipyard to build two new Liberty Class tankers.

As policymakers in Washington continue to debate ways to stimulate the economy and boost revenue, there’s a new case study that shows just what can be achieved when the energy industry is able to invest and produce American energy resources. On Tuesday, the Fort Worth Chamber of Commerce released an analysis of a decade of drilling in the Barnett Shale natural gas formation in 24 North Texas counties.

U.S. jobs from Canadian supplies

Posted: September 23, 2011 by Ken Cohen

There’s been some interesting commentary of late about how energy development in Canada could provide a genuine stimulus to the U.S. economy. Recently, an editor at the Wall Street Journal wrote “Canada’s Oil Sands are a Jobs Gusher.” In that piece, Mary Anastasia O’Grady made a compelling point about how Alberta, a center of oil sands production in Canada, has handled the global economic slowdown better than most due in part to the Canadian government’s commitment to oil sands production.

This week the Administration is expected to announce its proposals for paying for the president’s new jobs plan.

Judging by last week’s speech, it seems likely that there will be another attempt to use oil companies as the “pay for” to fund programs outlined in the president’s address. If so, unfortunately this appears to be the latest effort in advocating for hiking oil and natural gas company taxes as a misguided solution to the country’s economic challenges.

Where the jobs are

Posted: September 8, 2011 by Ken Cohen

How can America create more jobs? It’s a question a lot of people are asking on the heels of another highly disappointing jobs report from the Labor Department – and in advance of the president’s jobs-focused speech this evening. No matter how many differences of opinion there are in Washington on a wide range of issues, I think everyone agrees that what our nation needs is solid growth in sustainable, long-term employment. Two compelling proposals released in the past two days tell us just how to do that.

During these challenging economic times, there are plenty of facts and figures to show how the U.S. oil and natural gas industry is creating jobs and economic opportunity across the United States. But just as powerful, I think, are the real-life stories from where the job growth is actually taking place. And it’s happening in places you might not expect.

  • Worth a deeper look...