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Energizing America

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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 the PDF document and individual charts below.

PDF Icon  Energizing America (October 2015)
File Type: pdf | File Size: 6.4 MB


Changes in gasoline and diesel prices mirror changes in crude oil prices.

Gasoline, diesel and crude oil prices (Sept. 15, 2015)

Permalink with Update Gasoline, Diesel and Crude Oil Prices (Oct. 2015)

Growth in U.S. oil production has largely offset the growth in global oil supply disruptions since 2012.

Growth in global and oil disruptions and production (September 2015)

Permalink with Update Oil Supply Disruptions vs. U.S. Oil Growth (Oct. 2015)

A host of factors, many of them uncertain, affect the price of crude oil and the products made from it.

Oil Prices Relate to Many Uncertain Factors

Permalink with Update Oil Prices Relate to Many Uncertain Factors (Oct. 2015)

World oil consumption is expected to grow as the global economy rebounds.

World liquid fuel consumption

Permalink with Update World Liquid Fuel Consumption (Oct. 2015)

Growth in world oil consumption is expected to be concentrated in non-OECD countries.

Growth in world liquid fuel consumption

Permalink with Update Growth in World Liquid Fuel Consumption (Oct. 2015)

Surplus crude oil capacity is expected to increase.

OPEC world liquid fuel consumption

Permalink with Update OPEC Surplus Crude Oil Production Capacity (Oct. 2015)

The value of the dollar makes a difference.

Percent Change of WTI in dollars vs yen and euros

Permalink with Update Percent Change of West Texas Intermediate Crude (WTI) in Dollars and Yen/Dollars and Euros (Oct. 2015)

The price of natural gas has fallen relative to crude oil.

Change in prices of crude oil and natural gas

Permalink with Update Changes in the Price of Crude Oil and Natural Gas (Oct. 2015)

Looking ahead: EIA's price forecast.

EIA prices forecast

Permalink with Update EIA Price Forecast (Sept. 2015)

What Consumers are Paying for at the Gasoline Pump (as of July 2015)

What consumers are paying

Permalink with Update What Consumers are Paying (Sept. 2015)

Profit margins provide one useful way to compare financial performance among industries of all sizes.

Second Quarter Earnings (September 2015)

Permalink with Update Second Quarter 2015 Earnings by Industry (Sept. 2015)

Earnings: Keeping America going strong.

Earnings

Permalink with Update Earnings Compared to Manufacturing (Sept. 2015)

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 (September 2015)

Permalink with Update Return on Investment (Sept. 2015)

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?" (September 2015)

Permalink with Update Who Owns "Big Oil?" (Sept. 2015)

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 (September 2015)

Permalink with Update Income Tax Expenses as Share of Net Income Before Income Taxes (Sept. 2015)

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 (September 2015)

Permalink with Update Effective Tax Rates among industries (Sept. 2015)

Raising taxes on the oil and natural gas industry will not lower the price of fuel.

Economic Consequences of Higher Taxes (September 2015)

Permalink with Update Economic Consequences of Higher Taxes (Sept. 2015)

To understand the oil and natural gas industry, one must recognize it as an industry characterized by long lead times, huge capital requirements and returns realized only decades later in the face of very real investment risks.

Capital spending for US Projects (September 2015)

Permalink with Update Capital Spending for US Projects (Sept. 2015)

Shale driven energy production is reshaping the U.S. oil and natural gas infrastructure landscape.

Capital spending on infrastructure (September 2015)

Permalink with Update Capital Spending for Infrastructure (Sept. 2015)

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.

US Environmental Expenditures Since 1990 (September 2015)

Permalink with Update U.S. Environmental Expenditures since 1990 (Sept. 2015)

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 (September 2015)

Permalink with Update Carbon Mitigation Investment by Investor Group (Oct. 2015)

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 investment by technology group (September 2015)

Permalink with Update Carbon Mitigation Investment by Technology and Investor Group (Oct. 2015)

Carbon mitigation investments have helped reduce industry greenhouse emissions.

greenhouse gas emission reductions

Permalink with Update Greenhouse Gas Emission Reductions (Oct. 2015)

The EIA projects U.S. energy-related CO2 emissions will be lower in 2040 than when they peaked in 2007.

US energy related CO2 emissions

Permalink with Update U.S. Energy-related CO2 Emissions (Oct. 2015)

Methane emissions are falling even as natural gas production is increasing.

Methane Emissions and Natural Gas Production

Permalink with Update Methane Emissions and Natural Gas Production (Oct. 2015)

U.S. refining capacity continues to expand even as the number of refineries contracts.

Number of refineries declines

Permalink with Update Number of Refineries Declines but Capacity Expands (Sept. 2015)

For the first time since 1949, the U.S. became a net exporter of petroleum products in 2011.

Net exports petro products (September 2015)

Permalink with Update Net Exports of Total Petroleum Products (Sept. 2015)

The U.S. balance of petroleum products traded has shifted significantly.

Net imports and exports petro products

Permalink with Update Net Imports and Exports of Petroleum Products by Region (Sept. 2015)

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 (September 2015)

Permalink with Update Expanding Alternative Fuels for Transportation: Current Laws (Sept. 2015)

The percentage of the corn crop used for ethanol is growing.

Corn Use thumbnail (September 2015)

Permalink with Update U.S. Corn Use 2015/2016 (Sept. 2015)

Energy efficiency is the cleanest, quickest and most cost-efficient way to extend today's energy supply in the future.

U.S. Energy Demand per Dollar of GDP

Permalink with Update U.S. Energy Demand per Dollar of GDP - Growing Efficiency (Sept. 2015)

Although the share of non-fossil fuels is growing rapidly, fossil fuels - oil, natural gas and coal - will continue to play leading roles through 2040.

Future U.S. Energy Demand (September 2015)

Permalink with Update Future U.S. Energy Demand (Sept. 2015)

Just 9 percent of the nation's energy needs are supplied by renewables, which are expected to supply 12 percent by 2040.

Renewables energy consumption 2013 (September 2015)

Permalink with Update Role of Renewable Energy Consumption in the Nation's Energy Supply, 2013 (Sept. 2015)

Renewables energy consumption 2040 (September 2015)

Permalink with Update Role of Renewable Energy Consumption in the Nation's Energy Supply, 2040 (Sept. 2015)

Oil is expected to remain the dominant fuel in our nation's energy mix for decades to come.

Energy consumption by sector 2013 (September 2015)

Permalink with Update Energy Consumption by Sector, 2013 (Sept. 2015)

Energy consumption by sector 2040 (September 2015)

Permalink with Update Energy Consumption by Sector , 2040 (Sept. 2015)

U.S. oil and natural gas production is increasing as a result of technological innovation.

US crude oil and natural gas marketed production (September 2015)

Permalink with Update U.S. Crude Oil Production and Natural Gas Marketed Production (Sept. 2015)

Shale plays are widely dispersed across the U.S.

Shale gas plays (September 2015)

Permalink with Update Shale Plays, Lower 48 States (Sept. 2015)

The U.S. is less dependent on others for our oil needs.

Net exports crude oil petro products

Permalink with Update Net Import of Crude Oil and Petroleum Products as a Share of Consumption (Sept. 2015)

Production of natural gas and oil from shale and other tight formations is offsetting declines in other U.s. natural gas and oil sources.

U.S. crude oil and dry gas production by source

Permalink with Update U.S. Crude Oil and Natural Gas Production by Source (Sept. 2015)

The export of LNG represents one of the most promising economic opportunities of the shale revolution.

Export Liquefied Natural Gas?

Permalink with Update Why Export Liquefied Natural Gas? (Sept. 2015)

Developing domestic sources of oil and natural gas will be an important bridge to our energy future.

US Undiscovered Technically Recoverable Resources (September 2015)

Permalink with Update U.S. Undiscovered Technically Recoverable Crude Oil and Natural Gas Resources (Sept. 2015)

America can become a global energy superpower - but only if our leaders pursue smart energy policy.

Offshore undiscoverable tech recov fed resources

Permalink with Update U.S. Offshore Undiscovered Technically Recoverable Federal Oil and Natural Gas Resources (Sept. 2015)

Oil and natural production are down on federal lands and waters.

US crude oil natural gas production - federal vs non-federal

Permalink with Update U.S. Oil and Natural Gas Production on Federal vs. Non-Federal Lands and Waters (Sept. 2015)

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

Permalink with Update The Myth of Idle Leases (Sept. 2015)

Ultimately recoverable oil resources dwarf current proven reserves.

Ultimately recoverable oil resources (September 2015)

Permalink with Update Ultimately Recoverable Oil Resources  (Sept. 2015)

Increasing access to domestic sources of oil and natural gas would create new high paying jobs, bring billions of dollars to federal and state treasuries, reduce our balance of payments and enhance America's energy security.

Oil and Natural Gas Jobs Pay Well

Permalink with Update Oil and Natural Gas Jobs Pay Well  (Sept. 2015)

Development of Canadian oil sands would benefit the U.S. economy.

Canadian Oil Sands (September 2015)

Permalink with Update Canadian Oil Sands  (Sept. 2015)

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 (September 2015)

Permalink with Update Future Global Energy Demand  (Sept. 2015)

There are accumulating risks to the development of oil and natural gas.

Accumulating Risks to the Development of Oil and Natural Gas (September 2015)

Permalink with Update Accumulating Risks to the Development of Oil and Natural Gas  (Sept. 2015)

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 (September 2015)

Permalink with Update The Myth of "Big Oil"  (Sept. 2015)

U.S. companies face stiff competition for market share.

2013 Largest Oil Companies - proved reserves (September 2015)

Permalink with Update 2013 Largest Oil Companies (percent of worldwide proved reserves)

2013 Largest Oil Companys - crude and liquids production (September 2015)

Permalink with Update 2013 Largest Oil Companies (percent of worldwide crude and liquids production)

2013 Largest Natural Gas Companies - proved reserves (September 2015)

Permalink with Update 2013 Largest Natural Gas Companies - percent of worldwide proved reserves (Sept. 2015)

2013 Largest Natural Gas Companies - production

Permalink with Update 2013 Largest Natural Gas Companies - percent of worldwide crude and liquids production (Sept. 2015)

Diversifying sources of supply.

US Supplies of Crude and Products/Net Imports 2014 (September 2015)

Permalink with Update U.S. Supplies of Crude and Products/Net Imports - 2014 (Sept. 2015)

US Supplies of Crude/Net Imports 2014 (September 2015)

Permalink with Update U.S. Supplies of Crude/Net Imports - 2014 (Sept. 2015)

Energy development hinges on energy policy.

Energy Policy Choices and Consequences (September 2015)

Permalink with Update Energy Policy Choices and Consequences (Sept. 2015)

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