SANTE FE, NEW MEXICO, September 9, 2020 – The New Mexico Oil and Gas Association (NMOGA) and the American Petroleum Institute (API) today released a new analysis warning of negative consequences for New Mexico if a ban on federal leasing and public lands were to take effect. New Mexico, which accounts for 57 percent of federal onshore oil production and 31 percent of onshore natural gas production, is projected to be among the states hardest hit, losing over 62,000 jobs by 2022. With nearly 40 percent of the state’s budget funded by natural gas and oil production, a ban could put at risk more than $1 billion of federal revenue sharing which helps support New Mexico’s education and conservation programs.
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WASHINGTON, September 9, 2020 – The Texas Oil and Gas Association (TXOGA), Louisiana Mid-Continent Oil and Gas Association (LMOGA) and the American Petroleum Institute (API) today released a new analysis warning of negative consequences from a proposed ban on federal leasing on natural gas and oil development on public lands and waters. The offshore Gulf of Mexico accounts for over 15 percent of U.S. oil production. The analysis projects local economies in the Gulf Coast region would be among the hardest hit areas with more than 200,000 job losses by 2022 and millions of dollars in reduced revenue.
CASPER, WYOMING, September 9, 2020 – The Petroleum Association of Wyoming (PAW) and the American Petroleum Institute (API) today released a new analysis warning of negative consequences for Wyoming if a ban on federal leasing and public lands were to take effect. Wyoming, which accounts for 38 percent of federal onshore natural gas production and 16 percent of oil production, is projected to be among the states hardest hit, standing to lose more than 33,000 jobs and putting $640 million in state federal revenue sharing at risk.
WASHINGTON, September 9, 2020 – The American Petroleum Institute (API) today released a new analysis warning of negative consequences from a proposed ban on federal leasing on natural gas and oil development on public lands and waters. The analysis projects that a ban would shift the U.S. to foreign energy sources, cost nearly one million American jobs, increase CO2 emissions and reduce revenue that funds education and key conservation programs.
WASHINGTON, January 23, 2020 – U.S. petroleum exports hit a new all-time high of 9.0 million barrels per day (mb/d) in the final month of 2019, according to data released today from the American Petroleum Institute’s December 2019 Monthly Statistical Report (MSR). This latest milestone came as U.S. crude oil production notched a fifth consecutive monthly increase to reach a record 12.9 mb/d.
