Did You Know?
- Oil and natural gas production in our country is at an all-time high despite the fact that production on federal lands is down by more than 40 percent compared to 10 years ago. 2010 had the LOWEST number of onshore federal leases issued since 1984.
- The oil and gas industry delivers on average $86 million per DAY to the federal treasury in rents, royalties, bonus payments and income tax payments – API
- Our industry pays a higher tax rate (44.3 percent) than ANY other industry - API
- The Oil and Natural Gas industry supports 9.2 million U.S. jobs and 7.3 percent of the U.S. economy. - API
- Since 2000, our industry invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives. - API
- Between 2008 and 2010, the oil and gas industry spent $156 billion each year investing in America’s infrastructure. That accounts for almost 14 percent of all industry capital expenditures in the U.S. during that period, more than the utilities and transportation industries combined. – API
- In April 2013 the United States Geological Survey doubled its estimate of recoverable oil reserves and tripled its estimate of recoverable natural gas reserves in the Bakken and Three Forks formations in North Dakota, South Dakota and Montana.
- The U.S. EPA in April 2013 reported a significant downward revision to its 2012 methane emissions report.
- More than 97 percent of oil and natural gas company shares are owned OUTSIDE of corporate management. Millions of Americans with a retirement fund likely own stock in an oil and natural gas company through mutual funds, pension funds, IRA’s and individual accounts. - API