Politico

Oil lobby pushes energy agenda

November 20th, 2008 · No Comments

The new Congress isn’t even seated yet, but the oil lobby is already firing up its campaign for more domestic oil development.

The American Petroleum Institute is poised to spend a serious chunk of change on a multi-media education campaign, called American’s Energy Forum, aimed at voters in key energy areas.

While the institute wouldn’t divulge its budget or specific target areas, its chief executive officer, Jack Gerard, indicated it was preparing a multi-million campaign, including a wide array of advertising and lobbying efforts on Capitol Hill.

So far this year, the institute has spent $3.6 million on lobbying, according to the Center for Responsive Politics.

The oil and gas industry made major headway this year when President George W. Bush lifted the presidential ban on offshore drilling for oil and natural gas and Congress allowed the congressional moratorium to expire. But lobbyists see growing concern among the oil industry that Democrats, who will control both Congress and the White House next year, may move to reinstate the ban.

So, industry leaders are now looking to seize the opportunity to speed domestic production in response to the nation’s growing energy and economic crisis.

Increased production, energy experts say, could offer a plethora of new jobs to help move the country away from its addiction to foreign oil. Developing available oil and gas reserves could generate $880 billion in federal royalties to the federal treasury, API estimates.

“We’ve got to finish the issue. We are working to keep the momentum moving forward by keeping it on top of the minds of elected officials,” explained Gerard, who was formerly president of the American Chemistry Council. “During times of economic difficulty, oil and gas can be part of the solution to economic and energy security concerns.”