Energizing America

The United States is at an historic turning point for the country and its energy policies. But many Americans lack a full understanding of the oil and natural gas industry. API has assembled this oil and gasoline primer to encourage a constructive public policy debate that leads to a new fact-based comprehensive energy policy.

Sections include discussions of U.S. energy needs, investments, carbon mitigation, refineries and fuels, untapped potential of domestic resources, factors affecting price, global energy framework, and energy policy.

Energizing America is available in both high and low resolution versions.

 

Energizing America - Hi-Res (April 2013) File Type: pdf | File Size: 10403 kb

Energizing America - Low-Res (April 2013) File Type: pdf | File Size: 3367 kb

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See high and low resolution versions of individual charts below:

Changes in gasoline and diesel prices have mirrored changes in crude oil prices
Gasoline & Diesel Prices - Hi-Res (April 2013)  Gasoline & Diesel Prices - Hi-Res	Gasoline & Diesel Prices - Low-Res (April 2013)  Gasoline & Diesel Prices - Low-Res

A host of factors, many of them uncertain, affect the price of crude oil and the products made from it
Global Oil Prices - Hi-Res (June 2012)  Global Oil Prices - Hi-Res	Global Oil Prices - Low-Res (June 2012)  Global Oil Prices - Low-Res

World Liquid Fuel Consumption
World Liquid Fuel Consumption - Hi-Res (April 2013)  World Liquid Fuel Consumption - Hi-Res	World Liquid Fuel Consumption - Low-Res (April 2013)  World Liquid Fuel Consumption - Low-Res

Growth in world oil consumption is expected to be concentrated in non-OECD countries
Growth in World Liquid Fuel Consumption - Hi-Res (April 2013)  Growth in World Liquid Fuel Consumption - Hi-Res	Growth in World Liquid Fuel Consumption - Low-Res (April 2013)  Growth in World Liquid Fuel Consumption - Low-Res

Surplus crude oil capacity is expected to increase
OPEC Surplus Crude Oil Production Capacity - Hi-Res (April 2013)  OPEC Surplus Crude Oil Production - Hi-Res	OPEC Surplus Crude Oil Production Capacity - Low-Res (April 2013)  OPEC Surplus Crude Oil Production - Low-Res

Changes in the Price of Natural Gas and Crude Oil
Changes in the Price of Natural Gas and Crude Oil - Hi-Res (April 2013)  Changes in the Price of Natural Gas and Oil - Hi-Res	Changes in the Price of Natural Gas and Crude Oil - Low-Res (April 2013)  Changes in the Price of Natural Gas and Crude Oil - Low Res

Commodity Performance Year to Date
Commodity performance year to date, Jan. 1 thru February 7, 2013 - Hi-Res (Feb. 2013)  Commodity performance year to date, Jan. 1 thru February 7, 2013 - Hi-Res	Commodity performance year to date, Jan. 1 thru February 7, 2013 - Low-Res (Feb. 2013)  Commodity performance year to date, Jan. 1 thru February 7, 2013 - Low Res

Percent Change of West Texas Intermediate Crude
Percent Change of West Texas Intermediate Crude (WTI) in Dollars and Euros/Yen - Hi-Res (Feb. 2013)  Percent Change of West Texas Intermediate Crude (WTI) in Dollars and Euros/Yen - Hi-Res	Percent Change of West Texas Intermediate Crude (WTI) in Dollars and Euros/Yen - Low-Res (Feb. 2013)  Percent Change of West Texas Intermediate Crude (WTI) in Dollars and Euros/Yen- Low Res

Looking ahead:  EIA's price forecast
EIA Price Forecast - Hi-Res (April 2013)  EIA Price Forecast - Hi-Res	EIA Price Forecast - Low-Res (April 2013)  EIA Price Forecast - Low Res

What Consumers are Paying for at the Gasoline Pump
What Consumers are Paying at the Pump (as of Oct. 2012- Hi-Res (April 2013)  What Consumers are Paying at the Pump (as of Oct. 2012 - Hi-Res	What Consumers are Paying at the Pump (as of Oct. 2012)- Low-Res (April 2013)  What Consumers are Paying at the Pump (as of Oct. 2012) - Low Res

It may seem surprising that oil and natural gas earning are typically in line with the average of other major U.S. manufacturing industries
4th Qtr 2012 Earnings by Industry - Hi-Res (April 2013)  4th Qtr 2012 Earnings by Industry - Hi-Res	4th Qtr 2012 Earnings by Industry - Low-Res (April 2013)  4th Qtr 2012 Earnings by Industry - Low-Res

Earnings: Keeping America going strong
Earnings - Hi-Res (April 2013)  Earnings - Hi-Res	Earnings - Low-Res (April 2013)  Earnings - Low Res

The return on investment for the industry turned sharply lower than the returns for the S&P Industrials during the recent downturn in the economy
Return on Investment - Hi-Res (April 2013)  Return on Investment - Hi-Res	Return on Investment - Low-Res (April 2013)  Return on Investment - Low Res

When politicians talk about taxing "Big Oil" or taking their "record profits," they should think about who they really would be hurting
Who Owns "Big Oil?" - Hi-Res (June 2012)  Who Owns "Big Oil?" - Hi-Res	Who Owns "Big Oil?" - Low-Res (June 2012)  Who Owns "Big Oil?" - Low Res

U.S. oil and natural gas companies pay their fair share and are a tremendous source of public revenue
Income Tax Expenses as Share of Net Income Before Income Taxes - Hi-Res (June 2012)  Income Tax Expenses as Share of Net Income Before Income Taxes - Hi-Res	Income Tax Expenses as Share of Net Income Before Income Taxes - Low-Res (June 2012)  Income Tax Expenses as Share of Net Income Before Income Taxes - Low Res

The high effective tax rates associated with the oil and gas industry are a function of the nature of the business
Effective Tax Rates Among Industries - Hi-Res (June 2012)  Effective Tax Rates Among Industries - Hi-Res	Effective Tax Rates Among Industries - Low-Res (June 2012)  Effective Tax Rates Among Industries - Low Res

Raising taxes on the oil and natural gas industry will not lower the price of fuel
America's Choice - Hi-Res (Nov. 2012)  America's Choice - Hi-Res	America's Choice - Low-Res (Nov. 2012)  America's Choice - Low Res

To understand the oil and natural gas industry, one must recognize it as an industry characeterized by long lead times, huge capital requirements and returns realized only decades later in the face of very real investment risks
Capital Spending for U.S. Projects - Hi-Res (April 2013)  Capital Spending for U.S. Projects - Hi-Res	Capital Spending for U.S. Projects - Low-Res (April 2013)  Capital Spending for U.S. Projects - Low Res

Decades of investments of hundreds of billions of dollars have been made by the oil and natural gas industry to protect the environment and improve the performance of its products, facilities and operations
U.S. Environmental Expenditures - Hi-Res (Dec. 2012)  U.S. Environmental Expenditures - Hi Res	U.S. Environmental Expenditures - Low-Res (Dec. 2012)  U.S. Environmental Expenditures - Low Res

The U.S. oil and natural gas industry is spending billions of dollars developing new advanced energy technologies to reduce greenhouse gas emissions and meet future energy needs.
Carbon Mitigation Investment by Investor Group - Hi-Res (June 2012)  Carbon Mitigation Investment by Investor Group - Hi-Res	Carbon Mitigation Investment by Investor Group- Low-Res (June 2012)  Carbon Mitigation Investment by Investor Group - Low Res

Oil and natural gas companies are taking action now to reduce greenhouse gas emissions and investing in the technologies and fuels that will reduce them even more in the future
Carbon Mitigation Investments by Tech/Investor Group - Hi-Res (June 2012)  Carbon Mitigation Investments by Tech/Investor Group - Hi-Res	Carbon Mitigation Investments by Tech/Investor Group - Low-Res (June 2012)  Carbon Mitigation Investments by Tech/Investor Group - Low Res

Carbon mitigation investments have helped reduce industry greenhouse emissions
Greenhouse Gas Emission Reductions - Hi-Res (April 2013)  Greenhouse Gas Emission Reductions - Hi-Res	Greenhouse Gas Emission Reductions - Low-Res (April 2013)  Greenhouse Gas Emission Reductions - Low Res

U.S. refining capacity continues to expand even as the number of refineries contracts
Number of Refineries Declines but Capacity Expands - Hi-Res (July 2012)  Number of Refineries Declines but Capacity Expands - Hi-Res	Number of Refineries Declines but Capacity Expands - Low-Res (July 2012)  Number of Refineries Declines but Capacity Expands - Low Res

For the first time since 1949, the U.S. became a net exporter of petroleum products in 2011
Net Imports of Total Petroleum Products - Hi-Res (June 2012)  Net Imports of Total Petroleum Products - Hi-Res	Net Imports of Total Petroleum Products - Low-Res (June 2012)  Net Imports of Total Petroleum Products - Low Res

Our industry is the nation's largest user of ethanol and is increasing the volume of renewable fuels in America's transportation fuel portfolio
Expanding Alternative Fuels for Transportation: Current Laws - Hi-Res (June 2012)  Expanding Alternative Fuels for Transportation: Current Laws - Hi-Res	Expanding Alternative Fuels for Transportation: Current Laws - Low-Res (June 2012)  Expanding Alternative Fuels for Transportation: Current Laws - Low Res

The percentage of the corn crop used for ethanol is growing
U.S. Corn Use 2011/2012 - Hi-Res (June 2012)  U.S. Corn Use 2011/2012 - Hi-Res	U.S. Corn Use 2011/2012 - Low-Res (June 2012)  U.S. Corn Use 2011/2012 - Low Res

Energy efficiency is the cleanest, quickest and most cost-efficient way to extend today's energy supply in the future
Future U.S. Energy Demand per Dollar of GDP - Hi-Res (April 2013)  Future U.S. Energy Demand per Dollar of GDP - Hi-Res	Future U.S. Energy Demand per Dollar of GDP - Low-Res (April 2013)  Future U.S. Energy Demand per Dollar of GDP - Low Res

Although the share of non-fossil fuels is growing rapidly, fossil fuels - oil, natural gas and coal - will continue to play leading roles through 2035
Future U.S. Energy Demand - Hi-Res (April 2013)  Future U.S. Energy Demand - Hi-Res	Future U.S. Energy Demand - Low-Res (April 2013)  Future U.S. Energy Demand  - Low Res

The Role of Renewable Energy Consumption in the Nation's Energy Supply, 2011
Role of Renewable Energy Consumption in Nation's Energy Supply, 2011 - Hi-Res (April 2013)  Role of Renewable Energy Consumption in Nation's Energy Supply, 2011 - Hi-Res	Role of Renewable Energy Consumption in Nation's Energy Supply, 2011 - Low-Res (April 2013)  Role of Renewable Energy Consumption in Nation's Energy Supply, 2011 - Low Res

The Role of Renewable Energy Consumption in the Nation's Energy Supply, 2040
Role of Renewable Energy Consumption in Nation's Energy Supply, 2040 - Hi-Res (April 2013)  Role of Renewable Energy Consumption in Nation's Energy Supply, 2040 - Hi-Res	Role of Renewable Energy Consumption in Nation's Energy Supply, 2040 - Low-Res (April 2013)  Role of Renewable Energy Consumption in Nation's Energy Supply, 2040 - Low Res

Energy Consumption by Sector, 2011
Energy Consumption by Sector, 2011 - Hi-Res (April 2013)  Energy Consumption by Sector, 2011 - Hi-Res	Energy Consumption by Sector, 2011 - Low-Res (April 2013)  Energy Consumption by Sector, 2011 - Low Res

Energy Consumption by Sector, 2040
Energy Consumption by Sector, 2040 - Hi-Res (April 2013)  Energy Consumption by Sector, 2040 - Hi-Res	Energy Consumption by Sector, 2040 - Low-Res (April 2013)  Energy Consumption by Sector, 2040 - Low Res

U.S. Crude Oil and Natural Gas Production (1973-2012)
U.S. Crude Oil and Natural Gas Production - Hi-Res (April 2013)  U.S. Crude Oil and Natural Gas Production - Hi-Res	U.S. Crude Oil and Natural Gas Production - Low-Res (April 2013)  U.S. Crude Oil and Natural Gas Production - Low Res

Shale plays are widely dispersed across the U.S.
Shale Plays, Lower 48 States - Hi-Res (June 2012)  Shale Plays, Lower 48 States - Hi-Res	Shale Plays, Lower 48 States - Low-Res (June 2012)  Shale Plays, Lower 48 States - Low Res

U.S. Crude Oil and Dry Gas Production by Source
U.S. Crude Oil and Dry Gas Production - Hi-Res (April 2013)  U.S. Crude Oil and Dry Gas Production - Hi-Res	U.S. Crude Oil and Dry Gas Production - Low-Res (April 2013)  U.S. Crude Oil and Dry Gas Production - Low Res

Developing domestic sources of oil and natural gas will be an important bridge to our energy future
U.S. Crude Oil and Natural Gas Resources - Hi-Res (April 2013)  U.S. Crude Oil and Natural Gas Resources - Hi-Res	U.S. Crude Oil and Natural Gas Resources - Low-Res (April 2013)  U.S. Crude Oil and Natural Gas Resources - Low Res

The U.S. oil and natural gas industry should be allowed to do what it does best - produce the energy America needs
Offshore Undiscovered Technically Recoverable Federal Oil and Natural Gas - Hi-Res (April 2013)  Offshore Undiscovered Technically Recoverable Oil and Natural Gas - Hi-Res	Offshore Undiscovered Technically Recoverable Federal Oil and Natural Gas - Low-Res (April 2013)  Offshore Undiscovered Technically Recoverable Federal Oil and Natural Gas - Low Res

The purchase of a lease is always a gamble. Exploration is not a risk-free proposition, but it is an essential part of the energy business.  There is nothing idle about it
The Myth of Idle Leases - Hi-Res (June 2012)  The Myth of Idle Leases - Hi-Res	The Myth of Idle Leases - Low-Res (June 2012)  The Myth of Idle Leases - Low Res

Ultimately recoverable oil resources dwarf current proven reserves
Ultimately Recoverable Oil Resources - Hi-Res (June 2012)  Ultimately Recoverable Oil Resources - Hi-Res	Ultimately Recoverable Oil Resources - Low-Res (June 2012)  Ultimately Recoverable Oil Resources - Low Res

Development of Canadian oil sands would benefit the U.S. economy
Canadian Oil Sands - Hi-Res (June 2012)  Canadian Oil Sands - Hi-Res	Canadian Oil Sands - Low-Res (June 2012)  Canadian Oil Sands - Low Res

Most energy analysts agree that sustaining even modest economic growth worldwide for the next several decades will require massive new investments in oil and natural gas
Future Global Energy Demand - Hi-Res (June 2012)  Future Global Energy Demand - Hi-Res	Future Global Energy Demand - Low-Res (June 2012)  Future Global Energy Demand - Low Res

There are accumulating risks to the development of oil and natural gas
Accumulating Risks to Development of Oil and Natural Gas - Hi-Res (June 2012)  Accumulatin Risks to Development of Oil and Natural Gas - Hi-Res	Accumulating Risks to Development of Oil and Natural Gas - Low-Res (June 2012)  Accumulating Risks to Development of Oil and Natural Gas - Low Res

In terms of market power, investor-owned international oil companies (IOCs) own just 6 percent of the world's oil reserves
The Myth of "Big Oil" - Hi-Res (June 2012)  The Myth of "Big Oil" - Hi-Res	The Myth of "Big Oil" - Low-Res (June 2012)  The Myth of "Big Oil" - Low Res

Even the largest U.S. based international investor owned company accounts for just a small fraction of the world's oil reserves and production (1)
2010 Large Oil Companies (proved reserves) - Hi-Res (Jan. 2013)  2010 Largest Oil Companies (proved reserves) - Hi-Res	2010 Large Oil Companies (proved reserves) - Low-Res (Jan. 2013)  2010 Large Oil Companies (proved reserves) - Low Res

Even the largest U.S. based international investor owned company accounts for just a small fraction of the world's oil reserves and production (2)
2010 Large Oil Companies (percent of production) - Hi-Res (Jan. 2013)  2010 Largest Oil Companies (percent of production) - Hi-Res	2010 Large Oil Companies (percent of production) - Low-Res (Jan. 2013)  2010 Large Oil Companies (percent of production) - Low Res

 

Diversifying sources of supply (1)
U.S. Supplies/Imports of Crude and Products 2012 - Hi-Res (April 2013)  U.S. Supplies/Imports of Crude and Products 2012 - Hi-Res	U.S. Supplies/Imports of Crude and Products 2012 - Low-Res (April 2013)  U.S. Supplies/Imports of Crude and Products 2012 - Low Res

Diversifying sources of supply (2)
U.S. Supplies/Imports of Crude 2012 - Hi-Res (April 2013)  U.S. Supplies/Imports of Crude 2012 - Hi-Res	U.S. Supplies/Imports of Crude 2012 - Low-Res (April 2013)  U.S. Supplies/Imports of Crude 2012 - Low Res