States compete among top energy producing nations
WASHINGTON, May 28, 2015 ─ Many individual states now rival the world’s major energy producing countries, according to a ranking published today by API.
“This is what energy security looks like,” said API Vice President for Regulatory and Economic Policy Kyle Isakower, “Thanks to innovations in hydraulic fracturing and horizontal drilling, states like Texas and Pennsylvania now outpace many OPEC countries in oil or natural gas production. Rising domestic production has helped to reshape global markets and revitalize job creation here in the United States.”
Each with a natural gas output above 3 billion cubic feet per day, eight U.S. states would rank among the world’s top 30 gas producing countries, exceeding nations like Venezuela and Oman in 2012, the most recent year for which consistent international data is available. The rapid growth in shale production, unlocked by hydraulic fracturing and horizontal drilling, has helped the United States to take the top spot among global producers.
Among oil producing nations, two U.S. states – Texas and North Dakota -- would rank among the top 20 nations in the world. Four additional states make the top 35.
“Many individual states are now global leaders in their own right,” said Isakower. “Shale production has changed the way other countries view competition from America. To harness the world-class opportunity in front of us, it’s critical that policymakers open the doors for free trade and lift regulatory barriers on the construction of vital energy infrastructure, including pipelines and export terminals.”
Oil and natural gas development has been a pillar of job creation in many states, especially during the recent recession. The shale revolution also has saved U.S. consumers an estimated $1,200 per household annually.
“Responsible production and use of natural gas is a major reason why U.S. carbon emissions are near a 20-year low,” added Isakower. “America is leading the world, and our success saves consumers money while cleaning the air.”
API represents all segments of America’s oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.