Groups like the American Petroleum Industry have developed a number of valuable studies and reports pertaining to the value of the oil and gas industry and the impact it has on our economy and daily lives.
|The United States will overtake Saudi Arabia and Russia as the world’s top oil producer by 2017
The International Energy Agency (IEA) said it saw a continued fall in U.S. oil imports with North America becoming a net oil exporter by around 2030 and the United States becoming almost self-sufficient in energy by 2035. “The United States, which currently imports around 20 percent of its total energy needs, becomes all but self-sufficient in net terms – a dramatic reversal of the trend seen in most other energy importing countries,” it said.
|World Energy Outlook|
|Everything You Need to Know About the Oil and Natural Gas Industry and Taxes
An overview of how the industry works, how much it pays in taxes, and how it benefits the U.S. economy. Presented to Capitol Hill staff by Stephen Comstock, Manager Tax Policyand Brian Johnson, Senior Advisor Tax Policy
|Fast Industry Facts
API remains committed to providing the facts about the oil and natural gas industry that supports 9.2 million U.S. jobs and 7.5% of our nation’s GDP. With this in mind, we have created this easy-to-follow and conveniently sized “pocket card” that provides the facts and figures about the oil and natural gas industry. Available as a printable card or a one page document with full citations, explore the two links below to learn more.
|View/Download pocket card|
|The Economic Impacts of the Oil and Natural Gas Industry
The oil and natural gas industry is the backbone of the American economy and what happens in the industry reverberates throughout the entire economy. That’s because the industry supports more than 9 million American jobs and makes significant economic contributions as an emploer and purchaser of American goods and services. In 2007, the most recent year for which
data is available, the industry supported a total value added to the national economy of more than $1 trillion or 7.5 percent of
the U.S. gross domestic product.
|View Full Report: PriceWaterhouseCoopers|