API: Ohio Poised to Lead Shale Energy Revolution
In an Ohio Energy Jobs Summit hosted by The Hill newspaper, API President and CEO Jack Gerard said that Ohio was on the cutting edge of shale energy development that is a "game changer" for spurring millions of new jobs and economic growth in America. He said the benefits to Ohio and to the nation could be immense.
"We are at the forefront of an American revolution not seen since the tech boom in the 1990s," Gerard said. "Ohio is home to one of the largest resources of energy in the U.S. and using smart policies to develop these resources would mean more jobs, better wages, and more revenue to the government."
Gerard said shale energy could create thousands of jobs and raise living standards. A study earlier this year projected that by 2014 shale development in Ohio could generate 65,000 jobs and add $4.9 billion to the state's gross domestic product, he said.
A March poll of likely Ohio voters, conducted by bipartisan groups Public Opinion Strategies and Frederick Polls on behalf of API, found that 73 percent of Ohio voters favor more development of U.S. oil and natural gas resources. The poll found that large majorities agree that more U.S. oil and natural gas development could lead to more American jobs (91 percent), increase the nation's energy security (86 percent), help reduce consumer energy costs (84 percent), and deliver more revenue to the government (75 percent). Seventy-four percent believe that some in Washington are intentionally delaying domestic oil and natural gas development, potentially hurting the economy and leading to higher energy costs for consumers.
"Our participation in this summit is part of the nationwide dialogue we at API have encouraged, because we believe that an informed public leads to better public policies," Gerard said.
API represents more than 500 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America's energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.
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