Over the last decade, Americans have witnessed a drastic increase in natural gas production due to breakthroughs in drilling technologies such as hydraulic fracturing or “fracking.” This production has lead to economic growth, job creation, and most importantly decreased dependence on foreign sources of natural gas. But, exactly how much natural gas does the United States have? A report… Read more »
Today, the Subcommittee on Energy and Mineral Resources held an oversight hearing on “America’s Onshore Energy Resources: Creating Jobs, Securing America, and Lowering Prices.” The hearing was an opportunity to hear from witnesses who own and operate businesses that have benefited from increased production of American oil and natural gas on state and private lands and examine why those… Read more »
The Energy and Mineral Resources Subcommittee held an oversight hearing today on “America’s Offshore Energy Resources: Creating Jobs, Securing America, and Lowering Prices.” The hearing focused on the significant economic growth that increased production of offshore oil, natural gas and wind energy.
“In light of record debt and deficits, and the current sequestration cuts going into… Read more »
Ever since taking office, President Obama has erected barriers to increased offshore American energy production and systematically closed off new areas to drilling. Study after study has shown that increased offshore energy production will create jobs, grow the economy, lower prices and provide significant revenues to the states and federal government.
As the chart (below) shows, under… Read more »
The U.S. Energy Information Administration (EIA) yesterday released disturbing new data that shows the United States has been increasing its dependence on oil from one of the most unstable regions in the world. Middle Eastern oil now accounts for more than 25 percent of American oil imports—a nine year high that has come at the same time as record gasoline prices.
No wonder gasoline… Read more »
Yesterday marked 32 days in a row of increased gasoline prices, a 13 percent jump, according to the Automobile Association of America (AAA), which estimates the national average for a gallon of regular gasoline is $3.74. When President Obama took office in January 2009, the average price for gallon of gasoline was $1.84. Since taking office, President Obama has prevented new American… Read more »
Today, North Carolina Governor Pat McCrory, South Carolina Governor Nikki Haley, and Virginia Governor Bob McDonnell sent a letter to Interior Secretary Nominee Sally Jewell asking for a re-examination of the Administration’s policies towards energy exploration and production on the Atlantic Outer Continental Shelf (OCS). The Administration has continually blocked access to energy… Read more »
Gasoline Costs Hit Families' Finances
February 5, 2013
Wall Street Journal
By Tennille Tracy
Gasoline prices took a big bite out of Americans' pocketbooks in 2012.
The average U.S. household paid an estimated $2,912 for gasoline last year, sucking up nearly 4% of the average household income before taxes, according to government data out Monday. That is the highest percentage in… Read more »
House Natural Resources Committee Chairman Doc Hastings (WA-04) released the following statement after reviewing Dr. Joseph R. Mason’s report on the “Economic Effects of Immediately Opening Federal Lands to Oil and Gas Leasing: A Response to the Congressional Budget Office.” The report projects significant growth in jobs and economic activity—$14.4 trillion GDP increase, almost 2 million… Read more »
President Obama and his Administration have spent nearly the past four years putting the brakes on new offshore American energy production and job creation. When President Obama was sworn into office in January 2009, nearly all of our offshore areas were newly open to American energy production. This was the result of public outrage in the summer of 2008 over $4 gasoline prices that… Read more »
