Theodore Roosevelt, 1903

"Let us speak courteously, deal fairly, and keep ourselves armed and ready." - Theodore Roosevelt, 1903

Wednesday, September 25, 2013

Oil & Gas Industry: Facts & Trivia - Part Two

 

After putting out Oil and Gas Industry: Facts & Trivia - Part One, there was one fact that people have written to ask about.

It's about the Shareholders in the Oil and Gas Industry, and who owns how much of the pie?

Well, whether Liberal politicians and Environmental extremists want to acknowledge the truth or not, it is a cold hard fact that the majority of shares are owned by Private and Public Pension and Retirement Funds.

According to a study by Sonecon, the group who owns the most shares of publicly held oil and natural gas companies are Private and Public Funds. 

Nearly half of all 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 3%, that's right three percent, of the oil and natural gas industry. 

So when you hear someone say those "fat cats" in the Oil and Gas Industry are getting rich, please remember that the only "fat cats" who are getting rich off the Oil and Gas Industry are in Washington DC.

To my knowledge, there are no "fat cats" getting rich off of Private and Public Pension and Retirement Funds.

From what country did the U.S. import the most oil in 2012? How about our good neighbors to the North, Canada.

It's true! Our Number 1 trading partner is also our Number 1 supplier of imported oil to the economic benefit of both the U.S. and Canada.

Innovation and investment by America’s oil companies has increased the safe production of crude oil in America to its highest level since October, 1992.

Yes, at the end of 2012, U.S. field production of crude oil was more than 7.12 million barrels a day.

The last month it was that high who when George H.W. Bush was president.

What percentage of the Outer Continental Shelf is off-limits to oil and natural gas development? 

How about 87%!

Increased access, both onshore and offshore, could add more than 4 million barrels’ worth of oil and natural gas to the United States by 2020. And yes, that's per day!

The U.S. oil and natural gas industry’s average effective tax rate from 2006-2011 was 44% - which of course means that the oil and gas industry definitely pays its fair share of income taxes. 

Actually, it is a fact that the oil and gas industry pays more taxes than any other industry in the U.S.

The whacko environmentalist who would love to see Americans living in huts and eating leaves and berries might want Americans to think differently, but it is a fact that our oil and gas industry pays more in taxes than anyone else.

According to the Energy Information Administration, the U.S. consumed 95 quadrillion BTUs of energy in 2012.

So how much of that was supplied by oil and natural gas? 

How about more than 60%!

Most folks probably don't realize that Oil and Natural Gas supplied more than 60.62 quadrillion BTUs, or 63.77%, of the energy the U.S. consumed in 2012.

The Key to America's Energy Security


The domestic oil and natural gas industry supports 9.2 million American jobs and 7.7 percent of the U.S. economy, while producing 51 percent of all the oil and petroleum products Americans consume.

Every day, the industry fills state and federal government coffers with more than $86 million in taxes, fees and royalties.

All while investing more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

There is no question that a thriving domestic oil and gas industry is vital to America’s energy and economic security.

And did you know that, with the right policies in place, the industry can contribute even more?

In fact, U.S. and Canadian supplies can provide 100 percent of our liquid fuel needs by 2030 with the implementation of two straight-forward policies:

1) accessing U.S. oil and natural gas reserves that are currently off-limits; and
2) partnering with our friendly neighbor to the north, Canada, in the development of the Keystone XL pipeline.

A recent study found that U.S. State Department approval of the pipeline expansion could bring an extra 830,000 barrels of oil per day.

That is equal to about half of what is currently imported from the Persian Gulf. Canada has long been a vital partner in delivering American energy security.

It currently supplies 25 percent of U.S. oil imports - more than any other country in the world.

In addition to powering America with reliable supplies of energy, in 2010 alone, the industry delivered benefits to the U.S. economy roughly equivalent to 60 percent of the government's 2009 stimulus package.

That's right, $476 billion in industry benefits - compared to $787 billion in planned government stimulus expenditures.

$266 billion in new U.S. capital project investment, $176 billion in wages and $35 billion in 2010 dividends also spur growth in manufacturing, transportation, technology, accounting services and in the larger U.S. economy.

We've already talked about how the oil and gas industry contributes to retirement security for millions of Americans.

A 2011 Sonecon study found that, on average, oil and gas stocks comprise 4.6 percent of state pension fund assets, yet provide 15.7 percent of the returns—a ratio of 3.4 to 1.
  So how else does the Oil and Gas Industry benefit Americans?

Well, if we had government policies that support oil and natural gas development, we can increase total supported U.S. employment by One Million jobs in seven years.

That's not just number that was pulled out of someone's hat. It is not made up like the figures that are used by that group liars in the Obama administration.

Pro-development policies, which would include increased access to federal areas that are currently off-limits to oil and natural gas production, increased permitting in the Gulf of Mexico, approval of the full Keystone XL pipeline and other initiatives, can add 1.1 million new jobs by 2020.

How do they know this? Actually, it's derived by knowing how many people you would need to employ to expand an operation. 

That is the low estimate of the manpower, the number of employees, needed if those areas were open to public use.

This would help create jobs, great paying jobs for the future, and we can tell the Middle East to shove it!

Too bad President Obama is such a great friend to Muslims and the Oil Companies that they own - of the top 15 oil companies in the world are owned by Muslim nations.

The largest American owned oil company ranks 17th in the world, but Obama and Democrats never ever mention that - or the fact that while our oil companies help to bring energy to the world, Muslim owned oil companies finance Muslim terrorism.

And yes, if you wondered, the answer is yes - Obama's pro-foreign oil stance is a pro-Muslim stance.





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