The oil and natural gas industry shares a keen interest in the policy issues arena. As demand for energy to keep our homes, vehicles, and businesses running continues to increase, so does our advancement in technology, allowing us to provide safe, reliable, and affordable energy. While serious challenges face our nation on a variety of fronts, oil and natural gas industry representatives remain actively engaged with government leaders to ensure informed decision making so the energy needs of tomorrow are met.
The American people want an energy policy to develop our domestic oil and natural gas resources in an environmentally responsible way to power our nation's economy, create jobs, and enhance our nation’s energy security. See the top policy issues that impact the oil and natural gas industry and the American economy.
The oil and natural gas industry is the backbone of the American economy. What happens in the industry is felt throughout the entire economy. The oil and natural gas industry not only provides most of the energy that heats our homes, powers our factories and offices, and gets Americans to school and work, it also supports 9.2 million American jobs and supports more than $1 trillion of economic activity.
American Made Energy is our vision for the future. We can achieve this vision by unleashing the full benefit of developing U.S. oil and natural gas resources. But this will only happen if new policies are implemented to ensure effective regulation, if we proceed with vital infrastructure projects like the Keystone XL pipeline, and improve and accelerate the leasing and permitting process.
America runs on energy. Every moment of every day, energy is required for Americans to maintain their daily lives, and the majority of that energy is supplied by oil and natural gas. Oil and natural gas are integral to all aspects of the U.S. economy—and America’s economic recovery—as the success of any modern economy is dependent on reliable and affordable energy. Over the last 100 years, and well into the foreseeable future, oil and natural gas have and will continue to provide the energy America needs to succeed.
The U.S. has abundant supplies of natural gas. Industry advancements in hydraulic fracturing and horizontal drilling have led to a dramatic increase in the estimated recoverable shale gas resources located in the United States. Natural gas can be safely exported through LNG. Exporting natural gas through LNG has signficant benefits for the U.S.
Industry practice has changed a lot in the past 50 years, even the past 10 years. Advancements in technology allow us to conduct many aspects of our operations far more efficiently than just a few years ago. This efficiency translates to smaller "footprints" (the amount of surface area disturbed), less waste generated, cleaner and safer operations, and greater compatibility with the environment.
Advanced technologies developed over many years are used to produce oil from oil sands. The vast resources of the Canadian oil sands will play a crucial role in enhancing our nation's energy security, serving as a bridge to a future economy increasingly powered by new energy sources.
Application of hydraulic fracturing techniques, to increase oil and gas recovery, is estimated to account for 30 percent of U.S. recoverable oil and gas reserves and has been responsible for the addition of more than 7 billion barrels of oil and 600 trillion cubic feet of natural gas to meet the nation's energy needs.
The Keystone XL pipeline expansion would provide a significant boost to U.S. energy security, bringing an extra 830,000 barrels of oil per day to U.S. refineries
America's oil and natural gas industry considers safety its top priority and is committed to developing the technologies, standards and best practices, and programs needed to help ensure that workplace safety is at the forefront of our activities.
Access to oil and natural gas resources is critical to supplying the energy needs of American consumers, business and homeowners.
The oil and natural gas industry is dedicated meeting the energy challenges of the 21st century and ensuring that the transportation fuel needs of U.S. consumers are addressed in the decades ahead. Also, the oil and natural gas industry is the nation’s largest user of ethanol and is increasing the volume of renewable fuels in America's transportation fuel portfolio.
America's oil and natural gas industry supports 9.2 million jobs throughout the economy and 7.5 percent of our GDP. Our industry provides higher-than-average wages and helps ensure our nation’s energy security. In the process, the industry generates tax revenues from operations and sales of products that contribute billions every year to federal, state and local governments.