Posted October 31, 2013
Wishing everyone a safe and happy Halloween! And, thanks to America’s enormous wealth of oil, natural gas and other energy sources, plus investment and ingenuity supplied by the oil and natural gas industry, it is a high-energy Halloween. No tricks, just treats:
U.S. Jobs – America’s oil and natural gas industry supports 9.8 million U.S. jobs across all 50 states, according to a recent report by PwC. That’s 8.4 million full- and part-time jobs in the national economy and another 1.4 million supported by industry capital investment. Industry generated $1.2 of added value to the U.S. economy and nearly $600 billion in associated labor income – including wages, salaries, benefits and proprietors’ income.
Our Shale revolution – By 2020, more than 3.3 million U.S. jobs will be supported by the unconventional oil and natural gas revolution – energy from shale and other tight-rock formations thanks to advancements in hydraulic fracturing and horizontal drilling. IHS Global estimates the number will grow to 3.5 million in 2035.
Energy Security – Thanks to surging domestic production of oil and natural gas, the U.S. is expected to be the world’s largest producer of petroleum and natural gas hydrocarbons in 2013, surpassing Russia and Saudi Arabia, according to the U.S. Energy Information Administration (EIA). Greater domestic production means lower net imports, making our country freer from geo-political impacts on supply. We need more domestic supply, but also a stronger energy relationship with Canada – helped by building the Keystone XL pipeline and other needed infrastructure. Retired Gen. Jim Jones, former Obama administration national security adviser:
“The country can’t afford to pass up the opportunity for reliable supply from a close ally and neighbor, which would leave us less vulnerable (to supply disruptions from elsewhere in the world).”
Environment – Thanks to increased use of natural gas – thanks again, fracking – U.S. energy-related carbon dioxide emissions declined in 2012 to their lowest point since 1994, according to EIA. This is great news, underscoring the point that safe and responsible energy development is helping lead an effective emissions effort, even as industry continues to improve operations.
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.