Posted December 20, 2013
Momentum is building for revisiting decades-old restrictions on U.S. exports of oil and natural gas. For months we’ve talked about the benefits of exporting liquefied natural gas. Now the U.S. ban on crude oil exports also is being discussed. Earlier this month Energy Secretary Ernest Moniz said much has changed since the crude oil export ban was created:
“Those restrictions on exports were born, as was the Department of Energy and the Strategic Petroleum Reserve, on oil disruptions. There are lots of issues in the energy space that deserve some new analysis and examination in the context of what is now an energy world that is no longer like the 1970s.”
Meanwhile, the Wall Street Journal (subscription required) and the Washington Post have called for an end to the crude oil export ban. With the U.S. Energy Information Administration’s newest outlook projecting continued growth in U.S. production of oil – nearing the 1970 record of 9.6 million barrels per day – and natural gas, discussion of exporting American energy makes economic sense.
Posted December 5, 2013
America’s oil and natural gas industry is a top job creator – hence its total employment impact of 9.8 million jobs or 5.6 percent of total U.S. employment, according to PwC. That’s jobs in the industry itself and jobs that exist because of industry activity and investments. In a fair discussion of our industry’s ability to generate jobs and paychecks that benefit millions of Americans, basic economic s teaches that they all count.
Some seem to miss that last point. A Washington Post Wonkblog piece focuses narrowly on jobs in industry and industry support activities. Yet, we know from North Dakota, Texas and other states that oil and natural gas activity is fueling employment across a variety of sectors – employment that would be much smaller or non-existent without energy development. PwC found that for each direct oil and natural gas job, nearly three others were supported elsewhere in the U.S. economy.
Posted November 8, 2013
When President Obama talks about creating jobs, growing the economy, expanding exports of U.S. goods and strengthening the middle class, as he did Friday in New Orleans, most Americans are with him. And so is the oil and natural gas industry. As he said in April, creating jobs and opportunity for Americans should be our “true North.”
The president used Friday’s speech to make the case that needed improvements to the nation’s infrastructure – roads, bridges, ports and more – is a path to increased prosperity.
Posted September 4, 2013
U.S. Energy Lifting Economy More Than Expected
USA Today: Newly found sources of domestic oil and natural gas are having an even bigger impact on the economy than first projected, adding more than $1,200 last year to the discretionary income of the average U.S. family, a new study says.
The explosion in domestic energy production now supports 1.2 million jobs, directly or indirectly, says consulting firm IHS, in a study released Wednesday. That number will grow to 3.3 million by 2020, and new energy's contribution to U.S. families' disposable incomes will hit $2,000 per household per year by 2015, said IHS.
Read more: http://usat.ly/13eFEFC
Posted August 30, 2013
Like our “jobs quilt” below? When thinking about the oil and natural gas industry’s contribution to the economy and everyday American life this Labor Day weekend, the 9.8 million jobs supported by the industry come to mind.
The squares in the “quilt” detail industry’s jobs impact in various states – reflecting the fact that the economic lift of oil and natural gas development reaches all 50 states and the District of Columbia, according to a recent PwC report.
Posted August 22, 2013
National Journal has a couple of interesting offerings this week – an article exploring why Americans don’t seem to care what scientists think about climate, and its Energy Experts Blog question of the week asking what Americans think about energy and climate policy. (API President and CEO Jack Gerard’s response, here.)
A simple observation is that while Americans do think about climate and the role policy could play in affecting climate, they think about other things more.
Posted August 16, 2013
New EPA Administrator Gina McCarthy, in remarks this week in Colorado:
“Responsible development of natural gas is an important part of our work to curb climate change and support a robust clean energy market at home.”
Posted August 1, 2013
API’s Jack Gerard announced a new PwC study on the economic impacts of the oil and natural gas industry in 2011, the most recent year for which comprehensive data is available.
During a conference call with reports, Gerard noted that in 2011 the industry supported more than 9.8 million jobs – that’s 600,000 more jobs than it supported just two years earlier. Gerard:
“The PwC report confirms what we already know: America’s 21st century energy revolution is driving our resurgent economy.”
Posted July 30, 2012
Posted May 22, 2012