API President & CEO Jack Gerard Delivers “State of American Energy” – Slams Obama Administration’s Job-Killing Enegy Policy

Jack Gerard, President and CEO of the American Petroleum Institute, delivered the organization’s “State of American Energy” today in Washington DC.

I am listening to President Gerard deliver his remarks live at the Newseum in downtown Washington DC.
You can watch this event live at the API website.

The greatest moments in our history occur when we overcome challenges, or when we recognize and take advantage of opportunities.

In my remarks today, I want to focus on the challenges and opportunities before our country related to energy—and how what we do this year could have a profound impact on our country’s energy future … and with it, our economic prosperity.

And while this particular story has yet to be written for the Newseum, at this moment in time, our options for the future are quickly coming into focus.

Today we’re issuing The State of American Energy. A report that provides our industry’s perspective on energy and economic issues and the way the two are inextricably linked.

This report captures the challenges and opportunities ahead of us.

On the one hand, even in this challenging economic climate—one where people are looking for ways to create jobs, boost revenue and spur investment—our industry has a great story to tell. Consider just a few highlights from the last year.

** In 2010, oil and natural gas companies created 57,000 new jobs in Pennsylvania and West Virginia alone as part of the Marcellus Shale natural gas development. These are good-paying, stable jobs that are in high demand right now.

** The number-one ranking in Gallup’s “Job Creation Index” belongs to North Dakota, thanks to its record-breaking oil production numbers.

** Last year, oil and natural gas companies’ investments in U.S. capital projects for this decade hit the two trillion dollar mark.

** Finally, this industry provides the U.S. Treasury, on average, with well over $95 million each day in taxes, rent, royalties and bonus payments.

But on the other hand, without policies that encourage the continued safe and reliable production of our domestic oil and natural gas resources, the story will get much gloomier…

…We oppose the recent decision by the Department of the Interior to delay the next Five-Year Plan for offshore leasing, the placing of large areas of domestic oil and natural gas off-limits, and the slow pace of permitting—both onshore and off—in areas where exploration and production are allowed.

Closing the eastern Gulf and the Atlantic and Pacific coasts to offshore drilling and exploration—and delaying development in Alaska—sends job creation elsewhere … and it closes the door on economic growth.

Countries around the world understand this. Some are creating the right climate for energy investment – both within their borders and off their coasts—while others are securing global oil and natural gas resources

We hear much about China and how they’re securing their own energy future.

We can look at Brazil, home to some of the largest offshore oil finds in the last decade, finds that are believed to hold as much as 100 billion barrels of oil. Brazil recently announced that between now and 2014 it will invest $224 billion to double production by 2020. About 95 percent of that investment will stay in Brazil.

U.S. oil and natural gas companies stand to benefit from this development and could play a role in helping Brazil meet its target.

But we should be increasing production here at home; we should welcome new investments; we should be creating jobs and revenue here.

At a time when we are attempting to reduce the deficit and put more Americans back to work, closing off Outer Continental Shelf development opportunities is the wrong choice.
And it’s one we will be feeling the effects of for years…

…What we’re faced with today is choosing between the future we want to see—with jobs and economic growth and revenue generation as part of it all.

Or the future that will be handed to us if we continue on the current course—one that involves more imports, more expensive energy, more deficits.

Let’s make the right choice and set the right agenda.

And then, let’s get right to work on a story we can all be proud of … and one that will be chronicled here in this wonderful building as an American success story.

I believe that we can and I’m confident we will.

Thank you very much.

A summary of this study can be found here.

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#1 January 4, 2011 at 11:57 am
Stuart commented:

If the petroleum industry succumbs to the government’s ever tightening grip, we could well have an economic crisis of massive proportions. You know what they say, “never let a crisis go to waste.”
Oh my gosh the only thing that could save us would be a government takeover of the industry.
What a coincidence.
#2 January 4, 2011 at 12:01 pm
Finncrisp commented:

The job assassin takes no prisoners when it comes to killing jobs and delaying recovery. It is about time that these folks in the traditional energy sector are making their voice heard BRAVO!
#3 January 4, 2011 at 12:05 pm
Taqiyyotomist commented:

Nothing this man says will be listened to by any progressive in this country, simply because of who he is and the capitalism that he represents.

Lefty won’t even get past the headline.
#4 January 4, 2011 at 12:06 pm
templar knight commented:

We live in the only country in the World that does not develope its resources, and there is a reason why. The liberals and leftists now in control seek to destroy this country. There can be no other rational explanation.
#5 January 4, 2011 at 12:06 pm
vote for pedro commented:

Jeffie with declarative statements on CO2, global warming, cap and trade, etc. ad nauseum in 5,4,3…
#6 January 4, 2011 at 12:13 pm
Taqiyyotomist commented:

Lefty sees “American” “Petroleum institute” “President” “CEO” for the first five words of a headline….and his brain, wired as it is, shuts down all rational functions and focuses on the pure evil that those five words represent. Those are like post-hypnotic suggestion codewords to their brains, and when put together like that, will make a typical Lib/Prog ignore whatever comes next.

It’s like mentioning that Rush Limbaugh said something, while in debate with a lib. The conversation is over. The focus is gone. Immediately. The train comes off the track. They cannot continue a conversation’s theme after hearing the words “Rush Limbaugh”. Because they are brainwashed and hypnotized, their mental faculties are crippled at the mere mention of certain words.

American Petroleum Institute President CEO says…..

“Bzzzzt…..commencing logical shutdown……bzzztt.”
#7 January 4, 2011 at 12:13 pm
gus commented:

C’mon you CONTARDS give Obama a chance. He has to mop up the mess BOOOOOOOSH left him.

FORE!!!!!
#9 January 4, 2011 at 12:17 pm
gus commented:

Taqiyyotomist. I see your RUSH LIMBAUGH and raise you one SARAH PALIN.
#10 January 4, 2011 at 12:22 pm
vote for pedro commented:

I thought that the reason gas reached $4/gal during the Bush administration was due to cronyism. What could be the reason now? Jeffie? Supply and demand? The answer must be on the demand side only, right?
#11 January 4, 2011 at 12:42 pm
bitterclinger commented:

Don’t think that the Obysmal Admin has abandoned plans to nationalize the oil industry. Miraculously, all of the enviro concerns will undoubtedly disappear when they see the sweet $$ they can make for their greedy little selves.
#12 January 4, 2011 at 12:58 pm
Henry Hawkins commented:

Don’t listen to this clown, Jack Gerald, API, or anyone else associated with business. All they want to do is make money and split it up among the government, themselves, and the millions of people they employ, and then go on to do it again and again, year after year, decade after decade. How can you trust somebody like that?
#13 January 4, 2011 at 1:06 pm
Jaggededge commented:

He just put a target on his back because that’s how this administration shoots.
#14 January 4, 2011 at 2:14 pm
bman commented:

“drill baby drill” Palin
#15 January 4, 2011 at 2:16 pm
gus commented:

I like that Henry. Damned businessmen trying to get the TEACHERS UNION return on their retirement investment. And all those “living wage” jobs. Think about it. LIBS sh!t exactly where they eat. They look to the government for a tit. The government doesn’t provide a thing. They just extort from the productive. Good post!!
#16 January 4, 2011 at 3:12 pm
averagemelon commented:

I like oil. I use it every day.

I heat my home with it, drive my car with it, buy all sorts of things made with plastic with it.

I don’t plan on not using oil unless something comes along that’s BETTER and CHEAPER.

I don’t think it pollutes because we have been using it for well over a hundred years and I can still walk outside and not see ANY EVIDENCE AT ALL that it pollutes and damages stuff.

Drill for it and keep my neighbors employed, paying taxes, and buying stuff.
#17 January 4, 2011 at 3:18 pm
dunce commented:

By shutting down our petroleum industry obama is forcing us to pay jizah [not sure of that spelling] the tax that muslims demand of non believers who are required to pay under koranic law because to maintain what is left of our economy we must increase the importation of oil from the muslim masters. Welcome to dhimmitude.
#18 January 4, 2011 at 3:20 pm
Henry Hawkins commented:

I won a formal debate once, against the concept of ‘pacifism’, by pointing out that without someone willing to fight and defend the pacifists’ right to be pacifists, a pacifist America could be taken over by a Girl Scout Troop out of Canada. Pacifism cannot stand alone without a bodyguard to protect it, and pacifists merely push their responsibilities off on others – and then llok down on them for their warlike ways.

Similarly, pro-entitlement liberals just don’t seem to understand that there’s an effective limit to the ratio between those riding for free in the wagon and those pulling the wagon, analogizing tax suckers and tax payers, of course. At some point, we mules drop the yoke and walk away. Ideally on a hill.
#19 January 4, 2011 at 3:34 pm
gus commented:

Henry, we have reached a tipping point. LIBTARDS and specifically LIBTARD politicians have promised (painted) themselves into a corner. They have given away ALL OF THE CANDY. The FUKKTARD Kenyan is the logical conclusion. Now that LIBTARDS have owned and fukkked up every institution, there is no pie left and no one left to blame, so LIBS NATURALLY DO THE FULL MONTY!!! MARXISM. Fondling, stealing and rape weren’t enough to keep then AFLOAT. Where else is there left to go. Kill the Golden goose. Sell communism. ENFORCE YOUR WILL.
#20 January 4, 2011 at 3:38 pm
Henry Hawkins commented:

In the big picture, Repubs and Dems alike have for decades kicked the fiscal can down the road. Award benefits and grants and entitlements left and right because it helps me get elected, and sure, sometime down the road this will hurt us fiscally and somebody will have to bite the bullet and get the budget ax out – but that won’t happen tomorrow andit won’t be me, so spend away! Repubs and Dems BOTH.

Well, now the time has come.