API cautions president’s job council not to overlook a million new oil and natural gas jobs
WASHINGTON, October 11, 2011 - API Executive Vice President Marty Durbin said the interim report by the president's jobs council overlooks potential jobs in the oil and natural gas industry, one of the country's strongest job creators.
"While today's report acknowledges the continued need for oil and natural gas in our nation's energy future, we believe it missed an opportunity to highlight the enormous job creation and economic growth potential from this sector. Instead, the report describes 'controversy' and suggests a dialog must be started to allow us to take advantage of our resources.
"America's oil and natural gas industry continues to be committed to safe and reliable production of our energy resources; from industry standards that are cited throughout state and federal regulations to the innovative technologies that allow us to develop energy resources in the deepwater Gulf of Mexico and in shale formations around the country. We are sitting on vast domestic resources that can allow us to responsibly create more of our own energy, create more American jobs, and send more money to our government.
"What's needed isn't more dialog; what's needed is the opportunity to generate more than one million new jobs in just seven years, with 20,000 shovel-ready jobs that could be created almost immediately with approval of the Keystone XL pipeline."
The oil and natural gas industry can create 1.4 million additional jobs and more than $800 billion in additional government revenue by 2030, according to a study by Wood Mackenzie, sponsored by API.
API represents more than 480 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America's energy, supports 9.2million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
API to Obama: American energy development is 'critical' solution to jobs problem
WASHINGTON, September 8, 2011 - As President Obama prepares to address Congress and the nation about his proposals for creating jobs, API released a copy of a letter it sent to President Obama last week reminding him that America's energy industry is critical to the success of any proposal to address the nation's unemployment problem.
"As you prepare to announce your proposal to address the persistently high unemployment rate and support American job creation, remember that energy and America's energy industry is critical to making it happen," wrote API President and CEO Jack Gerard.
In the letter, Gerard pointed out that the oil and natural gas industry can be an ally in the president's goal of jumpstarting job creation in America. He highlighted a study released this week by Wood Mackenzie, sponsored by API, which shows that with responsible development of America's own vast domestic resources, the oil and natural gas industry can create an additional one million jobs in the next seven years and 1.4 million additional jobs by 2030. The study also finds the new development would create an additional $800 billion in government revenue by 2030.
"The oil and natural gas industry is already a critical driver of economic growth and job creation: we support 9.2 million jobs and more than $1 trillion in economic activity annually," Gerard said in the letter. "We can do more of both- and increase our revenues to the federal government - through common sense policies that promote development and production of our domestic energy resources and Canada's oil sands, while protecting our national parks and fragile ecosystems."
API represents more than 480 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America's energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
Posted: October 13, 2011