American Prosperity
Canadian oil sands not only help fuel Illinois manufacturing and agriculture — they help fuel American prosperity.
As investment and production in oil sands ramps up in Canada, the pace of economic activity quickens and demand for American goods and services increase rapidly. This will result in an estimated 343,000 new American jobs between 2011 and 2015.
Furthermore, a safe, reliable energy supply provides economic stability, heats our homes, fuels our cars, and runs our factories and businesses. The American energy industry creates jobs, funds schools, saves lives, helps us to communicate and, yes, even develops new forms of clean energy.
The oil and natural gas industry alone supports jobs for more than 9.2 million Americans. Now it has the opportunity to provide hundreds of thousands of new jobs with greater access to domestic resources and increased supplies from sources such as the Canadian oil sands.
The industry pays more than its fair share in taxes, having paid more thanover $1 trillion in total income taxes from 1980 to 2008. The industry has also given more than $178 billion to the government in rent, royalty and bonus payments since 1982. These revenues go to fund schools, roads, parks and other services for Americans.
What about the uses of oil and natural gas? In addition to the 255 million vehicles on the road; 12 million recreational boats; and more than 200,000 aircraft, oil and natural gas serve as inputs to thousands of products we use on a daily basis. Below is a short list of products whose foundation begins with oil and natural gas:
- Computers
- Plastics
- Phones
- Basketballs
- Toothpaste
- Makeup
- Baby car seats
- Crayons
- Golf balls
Finally, the oil and natural gas industry recognizes the need to protect our environment, investing significant time and money to this effort. The industry is researching, developing and marketing alternative and renewable sources of energy, such as solar, geothermal, bio-fuels, fuel cells, hydrogen power and wind energy. Since 1990, the industry has put more than $175 billion toward improving its own environmental performance. And in the last decade, from 2000-2008, the industry invested $58 billion in new low and zero-emissions technologies -- more than either the federal government and all other American-based private industries combined.
The industry recognizes it needs to do more. It continues to work with government, citizens and industry groups to improve operations, technology and standards to effectively access and develop the energy that fuels our economy.
Read more:
