Energy Tomorrow

Climate Legislation

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The House of Representatives approved the American Clean Energy and Security Act of 2009—or Waxman-Markey bill— aimed at reducing greenhouse gas emissions, and the Kerry-Boxer climate bill was introduced in the U.S. Senate.

Like the House bill, the Senate's Kerry-Boxer bill could have a profound impact on Americans' everyday lives. Simply stated, the legislation would likely raise energy costs, kill jobs and will not deliver the environmental benefits promised.

Given the economic challenges we face, the last thing we need is to create a climate for sky-high energy costs. Jobs and the health of the American economy depend on a more balanced approach.

Energy Taxes

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The administration recently sent Congress a budget proposal that included $80 billion in new taxes on the U.S. energy sector—a plan that will put an economic burden on hard-working Americans and their families. As Congress considers this proposal, it is critical to look beyond political rhetoric and focus instead on the reality behind these new taxes.

Higher industry taxes would send ripples throughout the economy, discouraging business expansion, investment and job creation. They will also lead to higher costs for consumers—taking money away from American households and families.

Domestic Access

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Increasing access to oil and natural gas resources could generate nearly 160,000 new, well-paying jobs, $1.7 trillion in revenues to federal, state and local governments and greater energy security. And according to a PricewaterhouseCoopers (PwC) study, the U.S. oil and natural gas industry already supports 9.2 million American jobs and contributes more than $1 trillion to the national economy, or 7.5 percent GDP.

But it's not just domestic oil and gas that will provide the jobs and energy our nation needs. Canada, our friendly neighbor to the north and top supplier of oil, will continue to play a vital role as we seek greater energy and economic security.