Oil & Natural Gas Contribution to U.S. Economy Fact Sheet

Did you know …?

That, based upon the latest IRS statistics, oil and natural gas companies lead all other industries in bringing back on average over $100 BILLION a year from foreign operations?

https://www.api.org/-/media/Files/Policy/Taxes/DM2018-086_API_Fair_Share_OnePager_FIN3.pdf

Source: American Petroleum Institute (api.org)

Oil and petroleum products explained – Uses of oil

Petroleum has historically been the largest major energy source for total annual U.S. energy consumption. We use petroleum products to propel vehicles, to heat buildings, and to produce electricity. In the industrial sector, the petrochemical industry uses petroleum as a raw material (a feedstock) to make products such as plastics, polyurethane, solvents, and hundreds of other intermediate and end-user goods.

https://www.eia.gov/energyexplained/oil-and-petroleum-products/use-of-oil.php

Source: U.S. Energy Administration (EIA)

How much natural gas is consumed in the United States?

-In 2019, the United States consumed about 31.01 trillion cubic feet (Tcf) of natural gas.

-Most U.S. natural gas use is for heating and generating electricity, but some consuming sectors have other uses for natural gas.

https://www.eia.gov/tools/faqs/faq.php?id=50&t=8

Source: U.S. Energy Administration (EIA)

Natural gas is also being as a cleaner energy source in the following ways:

• making fertilizer for ethanol
• generating power for homes and businesses
• transportation on land and sea
• electricity generation
• making methane for hydrogen
• used in most of our manufacturing products

https://www.api.org/news-policy-and-issues/natural-gas-solutions/what-is-natural-gas

Source: American Petroleum Institute (api.org)