Posted September 26, 2013
The promise of American energy is something we have written about a lot on this blog. From the millions of more jobs the industry could support to the economic lift to local economies, energy benefits are real and tangible.
So a blog post from the Progressive Policy Institute’s Diana Carew caught our attention. Carew highlights the U.S. Investment Heroes report, in which eight of the top 25 U.S. Investment Heroes of 2013 were energy companies. Carew:
“…the sheer magnitude of the investments by these companies means the contribution of the energy sector to economic growth should not be ignored or discounted in the larger conversation… our research found that of the three categories, energy companies were by far making the biggest bet on America’s future.”
The report estimates that these eight energy companies invested $56 billion more than last year in plants, property, and equipment in the United States, comprising almost 40 percent of the total $150 billion invested by the top 25 companies. Four oil and natural gas companies were in the top ten investment heroes: ExxonMobil, Chevron, Occidental Petroleum, and ConocoPhillips.
A second report looking at non-U.S. companies investing heavily in the U.S. found BP was the top non-U.S. Investment Hero followed by Shell, Statoil and Total. A clean sweep by oil and natural gas companies of the top four spots.
“At a time of weakness in other industries, these studies highlight that energy production is a bright spot for U.S. business investment. That this message is clear in both our U.S. Investment Heroes and non-U.S. Investment Heroes reports suggests energy will continue to be a driver of U.S. growth and job creation.”
We couldn’t agree more. America’s oil and natural gas industry is investing in America – in our communities, in new jobs, and in technologies that are making production more efficient and are reducing U.S. emissions. With increased access to U.S. resources and policies that encourage energy investment, America can look forward to and even brighter future.
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.