Energy Is The Answer

on January 28, 2014 at 3:30 PM

President Obama Discusses Clean Energy Jobs

With the State of the Union address scheduled tomorrow night, let’s look at how policy goals in President Obama’s past annual speeches to Congress fit with oil and natural gas development. It turns out the fit is good – very good.

For example, in the 2010 State of the Union the president called jobs his No. 1 priority and said American business would always be the “true engine of job creation.” He also applauded the improving health of the retirement funds supporting the future hopes of so many Americans. Oil and natural gas is playing a key role with both.

A PwC study found our industry supported 9.8 million jobs in 2011 (most recent data year), an increase of more than 600,000 jobs from 2009. Meanwhile, the strength of our industry no doubt has contributed to the improved state of retirement funds, since pension plans, 401(k)s and IRAs hold nearly 50 percent of the shares in U.S.-based oil and natural gas companies.

Check out this video that highlights the intersection of U.S. oil and natural gas development and the president’s policy objectives over the years:

Energy is the answer – if we make sound energy choices. These include policies that increase access to domestic oil and natural gas reserves while adopting a common-sense regulatory approach to development and those that foster energy infrastructure investment. We need visionary leadership that chooses to make energy, American energy, the answer for our economy, the well-being of individuals and families and for our nation’s security.

API President and CEO Jack Gerard framed the fundamental choice at the State of American Energy event earlier this month:

“We will decide if America continues its march toward global energy leadership — a once in a generation choice — or remains content to play a supporting role in the global energy market. We can erase what for decades has been America’s greatest economic vulnerability — our dependence on energy sources from other continents, particularly from less stable and friendly nations — and fundamentally alter the geopolitical landscape for decades to come, all while providing a much-needed boost to our economy. But only if we get our energy policy right.”

The choice on energy is ours to make. As Gerard noted, it’s a choice between:

“An American energy future of energy abundance, self-sufficiency and global leadership or energy scarcity, dependence and economic uncertainty.”

ChooseEnergy, America.

Video data sourcing: Jobsretirement fundsexportsrevenues to government (and here), manufacturingnatural gas productiondisposable incomeemissions reductionsinfrastructurewell-paying employment (and here).

By Mark Green
Originally posted January 27th, 2014
Energy Tomorrow is brought to you by the American Petroleum Institute (API), which is the only national trade association that represents all aspects of America’s oil and natural gas industry. Our more than 500 corporate members, from the largest major oil company to the smallest of independents, come from all segments of the industry. They are producers, refiners, suppliers, pipeline operators and marine transporters, as well as service and supply companies that support all segments of the industry.