The Energy and Commerce Committee of the U.S. House of Representatives put out press releases Wednesday promoting the jobs aspect of the energy revolution. In his news release, Chairman Fred Upton referred to the American Petroleum Institute’s new reportthat presents the findings of a survey of companies in America’s domestic oil and natural gas supply chain.
“This study projects that the oil, natural gas, and petrochemical (chemical products derived from petroleum) industries will generate 955,000 new direct job opportunities through 2020 and nearly 1.3 million through 2030. African American, Hispanic, and women workers are expected to represent a vital portion of this projected growth in the labor force. Notably, 23 percent of new opportunities through 2030 are projected to be in scientific and managerial positions, requiring training in fields such as engineering, geoscience, management, business, finance, and technical skills,” the API report said.
Higher Energy Salaries Across the States
The API report said the oil and natural gas industry supported 9.8 million U.S. jobs and 8% of the U.S. economy, and it identified nearly 30,000 companies (and their employees and families) located in every state that are benefiting from the boom in U.S. energy production. The API report points out that salaries earned by employees in the oil and gas industry even in non-producing states are significantly higher than average salaries in those states.
77% of Americans Favor Increased Production of Oil and Gas: API Survey
The API reported also that a 2014 telephone poll of 1,003 registered voters across the country, conducted on behalf of the American Petroleum Institute, found that 77% of Americans, regardless of party affiliation, answered in support of increased oil and natural gas production located here in the United States.
“The House plans to reaffirm its support for American energy and jobs by voting on a comprehensive energy package this month,” Upton said in the press release.
Subcommittee Wants to Develop Pathway for Minorities to Enter the Energy Sector
The Subcommittee on Energy and Power, chaired by Rep. Ed Whitfield (R-KY), has scheduled a hearing for Wednesda,y September 17, at 10:00 a.m. in room 2322 of the Rayburn House Office Building to examine H.R. 4526, the 21st Century Energy Workforce Development Jobs Initiative Act of 2014.
The 21st Century Energy Workforce Development Jobs Initiative Act, introduced by subcommittee Ranking Member Bobby Rush (D-IL), Chairman Whitfield, and Rep. Bill Johnson (R-OH), aims to create a pathway to employment for minorities and other historically underrepresented communities in the energy sector. The legislation directs the Department of Energy to establish a comprehensive program to improve the education and training for energy-related jobs and to help recruit more minorities and women for these jobs.
[sam_ad id=”32″ codes=”true”]
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. The company or companies covered in this note did not review the note prior to publication. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.