AMERICA’S ENERGY FORUM Bringing experts and verifiable facts to the energy discussion

Economic Boost

America’s oil and gas industry is vital to the nation’s economy, and it’s not just because of the 9.2 million jobs it supports.

The industry also supports 7.7 percent of the U.S. economy — and delivers an estimated $86 million per day in tax revenue to the federal government. 

Furthermore, results from a recent Wood Mackenzie study show that greater access to domestic energy resources could generate an additional $36 billion in government revenue by 2015 — and nearly $803 billion by 2030. That new tax revenue is badly needed to help reduce the national debt and help state and local governments meet their budget challenges.
It is also estimated that increased energy production could create more than 690,000 new jobs by 2025 and enhance America’s energy security by significantly boosting energy production.   (Source:  Wood Mackenzie, U.S. Supply Forecast and Potential Jobs and Economic Impacts).

The demand for oil and natural gas is rising fast, and so we need the oil and gas industry to provide the stable, affordable supply of energy required to heat our homes, run our businesses, fuel our construction projects, harvest our farms, and power America’s military to that provide for our national defense.

Increasing access to domestic sources of oil and natural gas would create new high-paying jobs, bring billions of dollars to federal and state treasuries, and provide America with increased energy security.

Read more:

• U.S. Supply Forecast & Potential Jobs & Economic Impacts (2012 – 2030)

Sign Up for Email

Comments (0) Print Page

 

Enter Your Name

Enter Your Comments – Tell Us What You Think

(Maximum characters: 500)
You have characters left.


Phonetic spelling (mp3)

Enter Code: