Results tagged “jobs”

Plans are underway for upcoming rallies to be held in Canton, Ohio, on September 7 and Farmington, N.M. and Joliet, Ill., on September 8. In the meantime, check out the video below from yesterday's kick-off rallies in Texas.

Thousands of America's energy workers attended the rallies in Houston, Port Arthur and Corpus Christi, and many expressed their sincere concern for America's energy future.

More than 5,500 energy workers and private citizens packed the George R. Brown Convention Center as well as two venues in Port Arthur and Corpus Christi today to stand up for jobs and the economy.

With thousands of jobs threatened by the offshore drilling moratorium, proposals for higher energy taxes, and a faltering economic recovery, people whose jobs and livelihoods depend on the oil and natural gas industry came together to send a message to Congress and the administration: They will make their voices heard in Washington and at the ballot box.

Thousands of people from all walks of life are expected to participate in rallies for jobs and the economy tomorrow, Sept. 1. They will gather at three venues in Houston, Port Arthur and Corpus Christi, Texas, where they will make their voices heard.

Some of the attendees are likely to be energy workers whose jobs are on the line due to the offshore drilling moratorium and the threat of higher energy taxes. But they won't be the only people who attend.

In today's episode, I interview Stephen Comstock, API's tax policy manager, about proposals from Congress and the administration that could raise taxes on the oil and natural gas industry. If enacted, these taxes would have a negative impact on the U.S. economy and the industry.

In related news today:

The study states that "as a result of the oil spill, the future costs of drilling and operating in the Gulf will rise considerably" due to the following factors: 

This year the nation is facing a similar situation. The United States is struggling to overcome the worst recession since The Great Depression, and economists say the sputtering recovery is not producing new jobs. Some 15 million Americans are out of work.

A year ago, API helped to organize rallies in more than 20 states and invited Americans to submit videos, many of which were shown on large screens during the rallies. Ron of New Bloomfield, Mo., provided his thoughts in this video:

American citizens have plenty to worry about. With 15 million workers in unemployment lines, family budgets under pressure, and higher taxes looming on the horizon, Americans from all walks of life are feeling insecure and wondering about their children's futures.

The Interior Department says it will require more extensive environmental reviews for deepwater projects, including limiting the use of "categorical exclusions" which eliminate the need to conduct an environmental analysis for every deepwater well. These exclusions make sense for wells being drilled in the same or similar formations where the environmental conditions and risks were identical, and for which extensive environmental analyses already have been conducted.

"I am officially announcing that API will host additional citizen rallies starting early next month in conjunction with other local and national groups.  We'll be taking the lead on the rallies, but we are partnering with local energy and business groups in every location.  We're kicking off the program with three rallies in Texas on September 1st, and we are now finalizing plans for rallies in Ohio, Illinois, Colorado and New Mexico.

How these costs are treated for tax purposes directly impacts the economics of a project.  Though a substantial portion of the costs are recovered over a long period of time, exploration and production companies do get a tax deduction for the labor associated with drilling to defray some of the upfront risk and economic cost.

"Failure to consider the full effect of proposed laws and moratoria, as well as the operation of existing laws, could jeopardize thousands of jobs and further damage the Gulf Coast economy."

In today's episode, I interview George Clark, president of Manufacture Alabama, about the impact of the drilling moratorium on Alabama's economy and jobs.

At present, the relief well is one of only 11 rigs operating in Gulf waters deeper than 500 feet, under exemptions to the administration's the deepwater drilling moratorium. Each of these rigs is working in proven reserves, and none is actively searching for new oil and natural gas discoveries.

Sen. Max Baucus (D-Mont.), for example, wants to prohibit the five largest oil companies from using a standard tax deduction. The Senate Finance Committee, which Sen. Baucus chairs, says the deduction's goal--to encourage the production of more domestic energy--hasn't been met.

H. Sterling Burnett, writing in The Hill, says part of the problem was the sales pitch used to push for passage. "Though the Senate's energy bill had nothing to do with the safety of offshore oil rigs, the green lobby tried to link the two in the public's mind. Fortunately, neither the public nor, ultimately, many senators were buying it," he writes.

In today's episode, I interview Dr. Tim Considine of the University of Wyoming about his recent study that quantifies the economic impact of developing natural gas in the Marcellus Shale formation, which stretches beneath large portions of New York, Pennsylvania and West Virginia. His study also looks at state policies that could hinder natural gas production in the region and slow economic opportunities.

After months of mixed economic news and 9-10 percent unemployment, it's heartening to read about areas of the country that seem to be doing well.

As we pointed out last week, North Dakota's record oil production for 2009 and its ongoing "oil boom" has had a very positive impact on the state's economy, revenue and jobs.

North Dakota produced a record amount of crude oil last year, putting it ahead of Louisiana as the fourth-largest oil-producing state. The state produced 79.7 million barrels of crude oil in 2009, and it expects to produce even more this year.

"Oil production was off the chart in 2009," Ron Ness, president of North Dakota Petroleum Council, told the Associated Press. "I think 2010 is going to be way off the chart."