API calls North Dakota "an energy juggernaut" at Williston Basin Conference

Source: API

At the 20th Annual Williston Basin Petroleum Conference, API President and CEO Jack Gerard, who was a keynote speaker, said North Dakota is an energy juggernaut that has risen above the country’s economic challenges to produce thousands of new American jobs and help provide the energy to fuel America’s future.

“As most states struggle with high unemployment, North Dakota’s jobless rate is the lowest in the country at about 3 percent,” said Gerard. “The average oil and gas job pays more than $70,000—nearly double the annual average salary in the state. And this success story is the direct result of responsible energy production in North Dakota.”

North Dakota has surpassed Alaska as the second leading oil producer, behind Texas, according to news reports. North Dakota’s average daily production in 2011 was up 35 percent over 2010 and up more than 200 percent over 2007.

“North Dakota is the frontier of this country’s future once again,” said Gerard. “The men and women of the oil and natural gas industry have answered the challenge and changed America’s future. Now we need wise policies to continue this energy rebirth.”

Energy production on state and private lands in North Dakota and elsewhere is leading the energy and economic boom across the country, according to API. But oil and natural gas leasing and permitting is down on federal lands onshore as well as offshore. The number of new federal oil and natural gas leases in the western states was down 44 percent in 2009/2010 compared to the previous two year period. The same trends have developed for drilling permits and the number of new wells drilled on federal land.

“We have the resources to meet our nation’s energy challenges,” said Gerard. “All we need is the right leadership and vision to put this industry to work in other parts of the country, and we can make our economy much stronger for generations to come.”

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.


Sign up for PennEnergy's eNewsletters
For Email Newsletters you can trust


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs