AS PREPARED FOR DELIVERY3As energy needs grow, our energy supplies will need to grow with them. That will include a robustrenewable energy sector.But the U.S. Energy Information Administration projects that renewables will meet only about 13p
ercent of the nation’s energy needs in 2035, with oil and natural gas supplying about 55 percent.
For the sake of our future, we need renewable energy technology to grow. But, for the sake of oureconomy, oil and natural gas will remain a key part of our energy sector for decades to come.Our economy is struggling and our industry has the power to help. We could invest more, create more
jobs, increase revenue to our government and produce more of what we consume. But we don’t have
enough access to our n
ation’s ample reserves to make this happen.
We are ready to get back to work. We need to get back to work. Poll after poll show that Americansagree. The latest
a CNN poll released just a few weeks ago
shows 69 percent of Americans supportexpanded offshore drilling.They see our industry as an engine that can create jobs, secure our energy supplies and improve theeconomy. And they are right.Expanding access to currently off-limit areas holds tremendous promise for job growth.
In 2010, oil and natural gas companies created 57,000 new jobs in Pennsylvania and WestVirginia through natural gas development in the Marcellus Shale formation.
These are good paying, stable jobs that are in demand.
Efforts in the 90s to encourage deepwater exploration and development are responsible for thetremendous amount of oil and gas produced today, and for the creation of thousands of new jobs.
North Dakota lead Gallup’s Job Creation Index, thanks to the record
-breaking oil productionnumbers.
It may surprise you to learn that North Dakota is now the fourth-largest producer of oiland natural gas, behind Texas, Alaska and California.
The growth of the industry there is the key reason the state boasts a 3.8 unemploymentrate, I believe the lowest in the nation. It has a projected $1 billion budget surplus.We can do more. Up to one million jobs can be created through pro-growth policies.
Expansion of Marcellus Gas Shale exploration in the northeast could create 280,000 jobs by2020.
Opening access to off-limits federal areas can create 500,000 jobs by 2030.
340,000 American jobs would be created through full production of the Canadian oil sands.
And while we may be a few years from large-scale commercial development of oil shaleresources, positive policy decisions related to this tremendous resource could create up to100,000 new jobs.But we still face too many self-inflicted restrictions by government policy.