API President and CEO Jack Gerard told attendees at a Vote4Energy event in Washington DE that America’s oil and natural gas resources could put millions of Americans to work and help sustain a strong economy for generations.
Investing more in American energy can transform our ecoomy,’ said Gerard. ‘We’ve already witnessed a massive first instalment of job creating projects in places like Pennsylvania, North Dakota and Texas, but far more job growth is possible if we had more regulatory certainty and less red tape. Getting energy policy right is key to facilitating greater job creation.’
A panel at the API event examined how energy can help the US economy, including the potential impacts of unconventional oil and natural gas development reported on in a new study API helped commission. The study, which was conducted by HIS Global Insight, concluded that unconventional oil and gas development could generate more than US$ 5.1 trillion in added investment through 2035, producing 3.5 million jobs and US$ 2.5 trillion in revenue for government.
‘America will need more energy, including more oil and natural gas and more renewables. It has vast amounts of oil and gas within its own borders and the capital, technology and best practice to produce them in an environmentally responsible fashion. Most Americans support more development,’ said Gerard.
Adapted from press release by Claira Lloyd.