December 18, 2013
AAF Research Identifies Ways To Strengthen U.S. Domestic Oil Production
The American Action Forum (@AAF) examined and identified steps the Federal government can take to strengthen the United States’ position as the leading producer of oil and gas.
AAF research finds the private sector has been driving the growth in domestic production often in spite of impediments due to Federal regulations. The Federal government can enhance domestic production by: improving access to federal land, improving infrastructure, and promoting trade within North America, according to the AAF research.
The U.S. is benefiting from this increased domestic production, including:
- Increased employment. Over the last 10 years employment in the oil and gas industry has increased by nearly 60 percent, 169,000 jobs have been added since 2009.
- Higher paying jobs. Oil industry workers in the U.S. earn 40% more than other private sector workers.
- Lower prices due to domestic production. Lower fuel prices will continue to benefit consumers and provide a boost to economic activity.
Click here to read the research