Friday, September 13, 2013

Oil & Gas Industry: Facts & Trivia - Part One

Do we need energy policy changes? 

Yes, let's get rid of those people in all aspects of government who are not for American energy independence.

What present policies need to be changed? 
  • Increase, not decrease energy production by promoting all sources.
  • Encourage energy self-reliance and self-sufficiency as a core American principle.
  • Encourage investment in advanced technologies and long term energy initiatives.
  • Allow market forces to allocate products and adjust to changing conditions.
  • Refrain from more new taxes that make it more and more expensive to develop our domestic supplies.
There are over 157,000 retail gas stations in the U.S.
So how many are owned by the major integrated oil companies, aka “Big Oil?” 

Well, how about 3%! The vast majority of branded stations are owned and operated by independent retailers licensed to represent that brand.

According to the National Association of Convenience Stores (NACS), more than half of the retail stations in the US are owned by an individual or family.

According to the Energy Information Administration the U.S. is projected to consume 107.64 quadrillion BTUs of energy in 2040.

So how much of that do they think will be supplied by oil and natural gas? How about more than 59%!

Even as renewable energy production grows, oil and natural gas will continue to provide the majority of our energy for years to come.

According to a study by Sonecon what group owns the most shares of publically held oil and natural gas companies?

How about Public & Private Pension Funds!

That's right, nearly half of the shares of U.S.-based oil and natural gas companies are held by public and private pension and retirement plans, including 401(k)s, and IRA’s.

Corporate management owns less than three percent of the oil and natural gas industry.

What percentage of offshore federal areas remains off limits to oil and natural gas
development? How about 87%!

The areas off the Atlantic and Pacific coasts, off the coast of Alaska, and in the eastern Gulf of Mexico are resource-rich but closed to development by government policy.

In 1995 it was estimated that there were less than 200 million barrels of oil in the Williston Basin shale area (North Dakota, South Dakota and Montana).

With new technologies it is now estimated that there are 7.38 Billion barrels of undiscovered, technically recoverable oil in the area.



“These world-class formations contain even more energy resource potential than previously understood, which is important information as we continue to reduce our nation’s dependence on foreign sources of oil.” - Secretary of the Interior Sally Jewell 

According to the latest State Department study, how many jobs could be supported during the construction of the Keystone XL pipeline?

Yes, even a State Department study says at least, at a minimum, 42,100 American jobs can be created with the Keystone XL pipeline. 

An average, across studied cases, indicates that 213,000 new American great paying American jobs would be supported by LNG exports between 2015 and 2035.

An oil industry worker makes about $94,500 a year on the average.

And yes, for every one job created in the oil industry - there are 3 jobs created in support of the oil industry.

If Americans, even liberals, are really concerned about the quality of life here in our country, than job creation should be our number one priority. 

America's oil and natural gas industry has a widespread economic impact throughout all sectors of the economy and across all 50 states and the District of Columbia.

The industry supports 9.8 million men and women in a wide range of highly skilled, well-paying professions.

In fact, oil and natural gas industry exploration and production wages are more than double the national average.

In 2011 the industry paid over $200 billion in direct wages to U.S. employees, with another $300 billion in wages paid to workers in jobs supported by the industry.

Oil and natural gas companies invest in cutting-edge technology and offer fulfilling careers to the next generation of American engineers, geophysicists, chemists, earth scientists, geologists, climate experts and explorers.

These individuals, working with the best technologies, will help find and recover oil and natural gas here and abroad and help secure America's energy future.

In addition, the industry employs professionals that most people don't normally associate with our industry, such as botanists and marine biologists, even zoologists and veterinarians.

With the right government policies in place, the oil and natural gas industry can create more American jobs that can help grow the U.S. economy, generate substantial new revenues for government and provide greater energy security for our nation.

In fact, with increased access to U.S. oil and gas resources we can create 1 million new jobs in the next ten years alone.

To put that in perspective, that would provide enough jobs for nearly every citizen of Rhode Island.

A recent study by Wood Mackenzie found that by 2030, nearly 1.4 million new jobs could be added through policies which encourage development of America's oil and natural resources, and facilitate Canadian oil sands production through the development of Keystone XL and other related pipelines.

A few examples are as follows:
  • Development of the Marcellus Shale alone could create 160,000 jobs in Pennsylvania, 20,000 jobs in New York and 30,000 jobs in West Virginia by 2015.
  • The opening of Florida to exploration and development could result in up to 100,000 new Florida jobs by 2016--just with increased access to federal areas within the Gulf of Mexico.
  • U.S. State Department approval of the Keystone XL pipeline could generate nearly 85,000 jobs by 2020
So ask yourself how bad this economy would be if it weren't for the oil and gas industry putting so many Americans to work?  

The oil and natural gas industry contributes significantly to the U.S. economy as one of the nation’s largest employers and purchasers of goods.

Even in a struggling economy, America's oil and natural gas companies continue to provide well-paying jobs, revenue to governments and investment growth for millions of Americans - totaling an economic contribution that challenges Washington's idea of stimulus.

Consider it the energy stimulus: $476 billion delivered to the U.S. economy in 2010. That's equal to roughly 60% of the 2009 federal stimulus.

It's a stimulus that didn't need an act of Congress and which, with the right policies, can be repeated over and over. And yes, each and every time helping to drive broader economic recovery.

The oil and natural gas industry by the numbers:

9.8 million: Number of people directly and indirectly employed by the U.S. oil and natural gas industry.

600,000: Increase of the number of jobs supported in just two years.

$200 billion: Paid by the industry paid in direct wages to U.S. employees.

$300 billion: Paid to workers in jobs supported by the industry.

1.4 million: Number of jobs the industry could create by 2030 with the right government policies in place to expand access to domestic natural resources.

$85 million: Daily amount companies pay to the federal government in royalty payments, rents and bonus fees.

$2 trillion: Invested by the industry in U.S. capital projects since 2000 to advance all forms of energy, including alternatives.

$74 billion: Government revenues generated by unconventional oil and natural gas development in 2012, rising to $138 billion in 2025.

12 percent: Percentage that U.S. energy demand will grow between now and 2040.

America’s oil and natural gas industry is creating jobs, stimulating the economy through investments in energy development and fueling our modern way of life.

Together, we can find commonsense solutions to our nation's energy challenges.

Among the biggest challenge facing America's oil and natural gas industry is President Obama and the Democrat Party - and their opposition to American energy independence. 

Of course, as with their trying to take away our guns, nothing changes until we vote Democrats out of office in 2014. 

 

1 comment:

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