More Jobs for Illinois
Canadian oil sands will be economically beneficial for Illinois, boosting production of goods - inluding oil refining - and adding more Illinois jobs. This reliable supply of affordable energy will also lead to energy security for Illinois businesses and residents.
A study by the Canadian Energy Research Institute (CERI) predicts Canadian oil sands will be responsible for 14,600 Illinois jobs and more than $1.5 million in economic value to the state by 2015.
Canadian Oil Fuels American Jobs
Canada and the United States are major trading partners, with more than 339,000 jobs in the Prairie State supporting a trade relationship valued at $35.6 billion. Of that amount, Illinois exported over $11 billion worth of goods to Canada, including automobiles, automobile parts, steel, organic chemicals, paints and other products.
Caterpillar is an example of a major Illinois employer - and exporter - directly benefiting from Canadian oil sands through the US-Canadian trade relationship. The Caterpillar 797, one of the world’s largest trucks, is used in the production of Canadian oil sands. The usage of this truck directly supports Illinois workers who manufacture these vehicles. These workers are employed at Caterpillar facilities throughout the state, including in Peoria, East Peoria, Decatur, Aurora, Joliet and Mossville.
Canadian Oil Fuels Industrial Growth
Caterpillar isn’t alone. Manufacturers, small employers and farmers throughout the Prairie State use oil as an input to power their vehicles and machinery, and use supplies for which oil is a foundational ingredient, such as plastics, chemicals and rubber. Therefore, these industries would significantly benefit from a steady, reliable supply of oil, such as Canadian oil sands. With this abundant source of energy from a friendly source, America could increase its energy security, stabilize input costs, fuel growth, and foster economic security.
Another set of workers that will benefit from the import of Canadian oil sands are those that support Illinois refineries that will process this valuable resources into the products that Americans use on a daily basis, such as gas. These include engineers, pipefitters, electricians and operators. The impact expands to businesses in the local area which support the refineries, such as truckers, construction, restaurants and business services.
The results clearly show significant economic benefits to the United States from increased economic activity in Canada and the continued import of oil from Canadian oil sands. As investment and production in oil sands ramps up in Canada, CERI also predicts the pace of economic activity will quicken and demand for American goods and services will increase rapidly. This will result in an estimated 343,000 new American jobs between 2011 and 2015.