"I consistently run into young adults who have quickly turned away from traditional jobs at great companies to try their hand at a start-up. I believe that some of this stems from the desire to strike it big like Mark Zuckerberg, but I also believe it is because starting a company has become far cooler than working in one."

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First, the oil and gas business pays its fair share of taxes. Despite the current debate on energy taxes, few businesses pay more in taxes than oil and gas companies. The worldwide effective tax rate for our industry in 2010 was 40 percent. That's higher than the U.S. statutory rate of 35 percent and the rate for manufacturers of 26.5 percent.

— John S. Watson