API: Happy Birthday Hydraulic Fracturing
WASHINGTON, March 17, 2014 – With birthday cards and a social media campaign, API celebrated the 65th birthday of the technology that has spurred an energy revolution in America: hydraulic fracturing or fracking.
“Americans have long been energy pioneers, from the 1800s when the first wells were drilled to today,” said API Director of Upstream and Industry Operations Erik Milito. “As part of that history, on March 17, 1949, we developed the technology to safely unlock shale and other tight formations, and now the U.S. is the world’s largest producer of oil and natural gas.”
The birthday cards feature a black and white photo of one of the world’s first commercially fractured wells located in Duncan, Oklahoma. Despite the 1940’s theme, API is commemorating the occasion on a distinctly modern platform – the internet. Digital birthday cards will connect readers to a blog with more information on the history and success of hydraulic fracturing, which has been used on over a million wells nationwide and already accounts for the majority of U.S. natural gas production.
“Thanks to fracking, we can produce more energy, with a smaller environmental footprint – changing America’s energy trajectory from scarcity to abundance,” said Milito. “This is a birthday worth celebrating.”
In 2012, unconventional resource development utilizing hydraulic fracturing increased disposable income by an average of $1,200 per household, supported 2.1 million American jobs, and contributed $284 billion to the U.S. GDP, according to a study by IHS. By 2025, IHS reports that unconventional drilling will support 3.9 million jobs, including 515,000 positions in manufacturing.
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 580 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 20 million Americans.