In 2013, the U.S. became the world’s top producer of petroleum and natural gas, surpassing Russia and Saudi Arabia.
Updating U.S. infrastructure could generate an estimated $1.14 trillion in capital investments, creating both jobs and energy savings from 2014 to 2025.
Capital spending in the infrastructure that moves and transforms oil and gas into everyday products, including gasoline and home heating oil, has increased by 60 percent between 2010 and 2013.
Investments in building, maintaining and updating the oil and natural gas industry’s transportation and storage infrastructure could contribute up to $120 billion to the economy per year.
Investment in the infrastructure that moves and transforms oil and gas into everyday products could support as many as 1.15 million jobs on an average annual basis, including 830,771 jobs resulting from pipeline investment.
Investment in the infrastructure that moves and transforms oil and gas into everyday products could generate up to $27.5 billion in average annual revenue to the government.
Energy Tomorrow is a project of the American Petroleum Institute – the only national trade association that represents all aspects of America’s oil and natural gas industry – speaking for the industry to the public, Congress and the Executive Branch, state governments and the media.