Here is just some basic info I could put together at a glance. I do understand that it will be above most of your heads.
API Access Counter The development of America’s vast domestic oil and natural gas resources that had been kept off-limits by Congress for decades could generate more government revenue, create new jobs and significantly boost domestic production. Want to learn more about increased production, decreased imports, and the cars and homes that could be powered by untapped U.S. resources? The API Access Counter enables you to explore resources and regions to understand the benefits of increased energy exploration.
Off-limits US oil, gas worth $1.7 trillion to government: study
Karen Matusic 202.682.8118 email@example.com
WASHINGTON – The development of America’s vast domestic oil and natural gas resources that had been kept off-limits by Congress for decades could generate more than $1.7 trillion in government revenue, create thousands of new jobs and enhance the nation’s energy security by significantly boosting domestic production, a study released Monday shows.
The ICF International study, commissioned by the American Petroleum Institute (API), shows that developing the offshore areas that had been subject to Congressional moratoria until recently, as well as the resources in Alaska’s Arctic National Wildlife Refuge and a small portion of currently unavailable federal lands in the Rockies, would lift U.S. crude oil production by as much as 2 million barrels per day in 2030, offsetting nearly a fifth of the nation’s imports. Natural gas production could increase by 5.34 billion cubic feet per day, or the equivalent of 61 percent of the expected natural gas imports in 2030.
The study also estimates that the development of all U.S. oil and natural gas resources on federal lands could exceed $4 trillion over the life of the resources.
“This study underscores how the oil and natural gas industry can enhance America’s energy security and help solve our economic problems by increasing production of our nation’s vast oil and natural gas resources,” said API President and CEO Jack N. Gerard. “The U.S. oil and natural gas industry supports more than six million jobs, and more drilling for oil and natural gas will mean more energy for America, more well-paying jobs, and trillions of dollars of much-needed revenues that will help federal, state and local governments pay for critical services.”
According to the ICF study, U.S. crude oil production would rise by 36% by 2030 if development is permitted in the studied areas of the Outer Continental Shelf, ANWR and the Rockies and domestic natural gas production would rise by 10%. By 2030, this activity would create 160,000 jobs.
API is the industry’s national trade association that represents all aspects of America’s oil and natural gas industry. Global professional services company ICF International partners with government and commercial clients to deliver consulting services and technology solutions in energy, climate change, environment, transportation, social programs, health, defense, and emergency management.
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Date: December 8, 2008 Wondering what’s going on with American energy and where our country is headed? Click here to find out the truth about oil and gas, and what it means for America’s energy and economic future. Here is a state by state map on different R&D taking place in the US.
From Kipplinger The U.S. is sitting on the world’s largest, untapped oil reserves — reservoirs which energy experts know exist, but which have not yet been tapped and may not be attainable with current technology. In fact, such untapped reserves are estimated at about 2.3 trillion barrels, nearly three times more than the reserves held by Organization of Petroleum Exporting Countries (OPEC) nations and sufficient to meet 300 years of demand — at today’s levels — for auto, truck, aircraft, heating and industrial fuel, without importing a single barrel of oil.
What’s the problem then? Why aren’t oil companies jumping to pump the black gold? Contrary to what some conspiracy theorists would have you believe, there is no cabal of oil companies and foreign governments blocking the way, bottling up U.S. oil production. The reality is much more mundane. Those untapped reserves are located in places that either Uncle Sam has put off-limits for environmental reasons or are too costly to get — or a combination of both.