Our weekly update to unravel the industry and political spin around the energy debate
IN CASE YOU MISSED IT
NEXT API AND EXXONMOBIL WILL BE COUNTING LEMONADE STANDS
The Washington Post’s Steven Mufson and Jia Lynn Yang looked at API’s questionable use of “induced” jobs in their claims of job creation. For instance, API includes valets, day-care providers and librarians in their reckoning. It’s a great example of why, according to economist, consultant and retired professor of management at the University of Calgary’s business school Philip K. Verleger, “The API is the best there is at lying with statistics.” Read the story.
TIDAL WAVE OF CAMPAIGNS HIT WESTERN STATES ON OIL AND GAS SUBSIDIES
Grassroots groups across the political spectrum from budget watchdog Taxpayers for Common Sense to Environment Washington have been working feverishly for the last few months to see an end to government handouts to the oil and gas industry. Last week, Taxpayers launched radio ad campaigns in Washington and Colorado calling for an end to government handouts. Meanwhile, Environment Washington toured the Puget Sound area – including Olympia, Tacoma and Seattle – with a mobile billboard reading, “Big Oil gets tax break$ – We get the pollution.”
HOW TO MAKE FRACKING COOL
Just a few short weeks ago the Colorado Oil & Gas Association was described as having its collective “ass kicked” when it came to hydraulic fracturing. The head of the state industry association said its problem is that it is not on Facebook and not watching enough South Park. Really. The Checks and Balances Project imagined what a fracking insider’s Facebook profile might look like. As you can see it may solve all of the industry’s public relations nightmares.
FRACKING UNDERMINES MORTGAGES
For the more than one million Americans who have been offered cash for the right to hydraulically fracture their property, The New York Times investigation highlights their biggest fears: devalued property and potential defaults. Ian Urbina’s story, which went to print on October 20th, points out that deals offered to landowners for drilling rights may be in direct conflict with the mortgage agreements between banks and citizens.
DID YOU KNOW?
DOMESTIC ENERGY PRODUCTION AT RECORD HIGH
Oil and gas politicians are trying desperately to avoid mentioning the facts about our current, domestic energy production.
COMING UP THIS WEEK
BIG OIL ANNOUNCES Q3 PROFITS
Big Oil has amassed $67.4 billion in profits the first six months of this year. Now it’s time to find out how they did in the third quarter. The question is what effect these numbers will have on the Super Committee’s decision regarding the billions in government handouts these same companies collect every year.
- BP (BP): Tuesday, Oct. 25
- ConocoPhillips (COP): Wednesday, Oct. 26
- Royal Dutch Shell (RDS): Thursday, Oct. 27
- ExxonMobil (XOM): Thursday, Oct. 27
- Chevron (CVX): Friday, Oct. 28
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