Posted March 17, 2015
Removing U.S. Oil Export Ban Would Create Jobs Beyond Drilling: Report
Reuters: Lifting a 40-year-old U.S. ban on crude exports would create a wide range of jobs in the oil drilling supply chain and broader economy even in states that produce little or no oil, according to a report released on Tuesday.
Some 394,000 to 859,000 U.S. jobs could be created annually from 2016 to 2030 by lifting the ban, according to the IHS report, titled: "Unleashing the Supply Chain: Assessing the Economic Impact of a U.S. crude oil free trade policy."
Only 10 percent of the jobs would be created in actual oil production, while 30 percent would come from the supply chain, and 60 percent would come from the broader economy, the report said. The supply chain jobs would be created in industries that support drilling, such as oil field trucks, construction, information technology and rail.
Many of the jobs would be created in Florida, Washington, New York, Massachusetts, and other states that are not known as oil producers.
“The jobs story extends across the supply chain, right across the United States,” said Daniel Yergin, a vice chairman at IHS and an oil historian. “It's not just an oil patch story, it's a U.S. story.”
Read more: http://reut.rs/19wSo1s
More industry news:
- As NC Fracking Moratorium Lifts, Lee County Awaits Wildcatters: http://bit.ly/1LpVfdb
- Blog: Seattle’s Silly War on Oil Rigs: http://onforb.es/1Cqc7L7
- Comment: Why Environmental Opposition to Natural Gas Infrastructure is Misguided: http://bit.ly/19wPqKr
- Senators Call Proposed Ozone Rules ‘Irresponsible’: http://cnb.cx/1Cqdbyy
- Column: Transport Sector Set to Give Big Lift to Oil Demand: http://reut.rs/1xc7R1o
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.