Fast Facts: The U.S. Oil and Gas Industry

The oil and gas industry is one of the most profitable and flourishing industries in America. In fact, this industry supports about 8% of the country’s Gross Domestic Product and supports around 10 million jobs in the U.S. Oil is the main ingredient for a huge array of industrial products like plastics, solvents, transportation fuels, and is the main source of heat generation and electricity.

Many qualified investors choose oil and gas investment opportunities as they can deliver sustainable, long-term benefits and help in diversifying an investment portfolio. A reputable oil and gas investment company like DW Energy can help you identify lucrative opportunities.

Below are some facts that will give you a better idea of where this industry stands.

1. The world consumes more than 36 billion barrels of oil on a yearly basis

People use approximately 100 million barrels of liquid fuels and oil per day, and this adds up to more than 36 billion barrels of oil yearly. Over the last decade, this number has been steadily increasing and may continue to rise in spite of the growing popularity of other energy sources.

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2. The United States is the world’s leading country that produces oil

The United States still leads the world in oil production, with an output of more than 14 million barrels per day. This accounts to one-seventh of the total oil production on a worldwide scale. The majority of U.S oil production is taken from sandstone and carbonate reservoirs. They are found both in source rocks and reservoir rocks, with the former having become more financially viable and accessible following technological advances. With increasing production output and energy independence, oil and gas companies have been performing increasingly well in the country, signaling more job opportunities.

3. Texas is the top oil-producing state in the U.S.

It’s not surprising that Texas is the biggest producer of oil in the U.S. as the state has a culture linked with the oil industry for more than a century. Texas accounted for 41 percent of the country’s oil production. The Eagle Ford Shale Play and the Permian Basin are located in state of Texas and are two of the most actively drilled targets for unconventional and conventional oil, like oil sands and shale.

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4. The Oil and Gas Industry provides a massive contribution to the U.S. economy

The oil and gas industry supports the economy of the United States like no other industry. In fact, it supports about 10 million jobs in America, and approximately 8 percent of the country’s Gross Domestic Product. By investing, you are doing your part in spurring economic growth, helping create jobs across a wide range of sectors. On average, the industry delivers billions of dollars in revenue every year to the federal treasury in bonus payments, rents, royalties, and income tax payments. 

The energy trends worldwide have made it clear that the oil and gas industry continues to flourish, and that its production and energy demands will continue to increase. While demands for alternative energy sources are also on the rise, statistics also show that there is a steadily increasing demand for oil and gas on a global scale. For qualified individuals looking for more lucrative means to diversify their portfolio, considering oil and gas investment opportunities is a good option for making big returns on investment while at the same time, enjoying massive tax breaks. For approved and qualified investors interested in potential energy investments in Texas, fill out DW Energy’s contact form here

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