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As President Obama prepares to address Congress and the nation about his proposals for creating jobs, API released a copy of a letter it sent to President Obama last week reminding him that Americaº£½Ç³Ô¹ÏÍø™s energy industry is critical to the success of any proposal to address the nationº£½Ç³Ô¹ÏÍø™s unemployment problem.

º£½Ç³Ô¹ÏÍø˜As you prepare to announce your proposal to address the persistently high unemployment rate and support American job creation, remember that energy and Americaº£½Ç³Ô¹ÏÍø™s energy industry is critical to making it happen,º£½Ç³Ô¹ÏÍø™ wrote API President and CEO Jack Gerard.

In the letter, Gerard pointed out that the oil and natural gas industry can be an ally in the presidentº£½Ç³Ô¹ÏÍø™s goal of jumpstarting job creation in America. He highlighted a study released this week by Wood Mackenzie, sponsored by API, which shows that the responsible development of Americaº£½Ç³Ô¹ÏÍø™s own vast domestic resources, the oil and natural gas industry can create an additional 1 million jobs in the next 7 years and 1.4 million additional jobs by 2030. The study also finds the new development would create an additional US$ 800 billion in government revenue by 2030.

º£½Ç³Ô¹ÏÍø˜The oil and natural gas industry is already a critical driver of economic growth and job creation: we support 9.2 million jobs and more than US$ 1 trillion in economic activity annually,º£½Ç³Ô¹ÏÍø™ Gerard said in the letter. º£½Ç³Ô¹ÏÍø˜We can do more of both, and increase our revenues to the federal government, through common sense policies that promote development and production of our domestic energy resources and Canadaº£½Ç³Ô¹ÏÍø™s oilsands, while protecting our national parks and fragile ecosystems.º£½Ç³Ô¹ÏÍø™

Read the article online at: /business-news/09092011/energy_is_a_solution_to_the_jobs_problem/