Did You Know?

The oil and natural gas industry supports more than 9.6 million U.S. jobs.

Marcellus Shale development could create 113,000 American jobs by 2015.

Greater Canadian oil sands production could create more than 500,000 new U.S. jobs.

The oil and natural gas industry pays the federal government approximately $86 million a day.

America has enough oil and natural gas to power 65 million cars for 60 years.

America has enough oil and natural gas to heat 60 million households for 160 years.

Royalty revenue from energy production provides the U.S. Treasury with more than $25 million each day.

The oil and gas industry invested more than $2 trillion in U.S. capital projects since 2000.

The Eastern Gulf of Mexico may hold 3.8 billion barrels of oil.

Offshore energy development in the Atlantic could create another 3.8 billion barrels of oil.

Allowing offshore drilling in the Atlantic could create 37 trillion cubic feet of natural gas.

Increased domestic shale development could add as many as 317,000 American jobs by 2015.

Hydraulic fracturing has been used safely in 1 million wells over the past 60 years.

The United States has the most technically recoverable oil and natural gas resources in the world.

Offshore, America may have nearly 101 billion barrels of oil and 480 trillion cubic feet of natural gas.

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Gasoline Prices and Real Help for Consumers »

Gasoline prices have been rising with the approach of the summer driving season – up to about $3.66, according to AAA – pushed there by rising crude oil prices. U.S. consumers need help. And they could get it – if the administration pursued a number of energy policies to put downward pressure on global crude costs, while abandoning other choices that could harm consumers.

API Chief Economist John Felmy’s reporter briefing Thursday focused attention on two paths: one that will increase domestic production of oil and natural gas and one that won’t. Unfortunately, the administration – via proposals to increase energy taxes and a new wave of questionable regulation – looks headed down the wrong path, a recipe for disaster for American energy:

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