Department of Energy report showcases broad benefits of oil and gas over two decades

The U.S. Department of Energy has published a detailed summary of the broad benefits realized over the past 20 years through the increased production of oil and natural gas in the country, entitled U.S. Oil and Natural Gas: Providing Energy Security and Supporting Our Quality of Life. The joint effort of the agency’s Office of Oil and Natural Gas and the National Energy Technology Laboratory focuses on the positive impacts to the economy, the environment and consumers with the shale revolution, along with current and future technological achievements that will keep the U.S. at the forefront of energy production.

The report covers many of the topics that PIOGA members and allies have been promoting for years, along with a few additional facts of similar importance:

• Energy consumption. Oil and natural gas make up almost 70 percent of the total energy used annually in the United States.
• Meeting electricity demand and efficiency. “Fast Ramp-Up” natural gas electric generating facilities are capable of reaching 100 percent power capacity in just 30 minutes.
• Increased safety and gas efficiency. Advanced plastics account for 50 percent of a cars’ total volume, and only 10 percent of a vehicle’s weight.
• Benefits to consumers. The average family of four is saving $2,500 annually in total energy costs through low-cost natural gas supplies and electricity and lower gasoline prices, thanks to shale development in the U.S.
• Employment. Oil and natural gas production accounts for more than 896,000 jobs in the U.S., including 158,000 direct jobs and 738,000 indirect jobs.
• Labor production and efficiency. The labor productivity index for the oil and natural gas industry, measured as output per work hour, more than doubled between 2008-2018, from 93 to 202.

The report can be found here. PIOGA encourages you to review it and consider sending along to your friends and colleagues to share the success story of American energy production.