America's energy boom provides a unique opportunity for the U.S to create even more jobs, and save energy, for Americans by updating our nation's energy infrastructure.
Within in the past 4 years, the United States has become the world's top producer of oil and natural gas. This dramatic expansion in our nation's energy production has rocketed us ahead of perennial top oil-producing nations like Saudi Arabia, Russia, China, Canada, and Venezuela.
As a result, spending on the infrastructure necessary to support our energy boom has increased — about 60% from 2010 to 2013. In 2015, neary $45 billion was spent on new infrastructure. This is a great start. But more is needed to support our nation's new place as the world's leading producer of oil and natural gas.
Today, there are more than 2.5 million miles of pipelines crisscrossing the United States. These pipelines help ensure delivery of oil and natural gas from where it is extracted, to where it is refined, and then finally to consumers — all with an industry-wide 99.999% safety record.
As energy development has grown by leaps and bounds in recent years, it has created the need for updated energy infrastructure like new pipeline systems, particularly here in Pennsylvania.
Nationwide, studies have shown that infrastructure updates have the potential to generate as much as $1.14 trillion in new capital investment by the year 2025. The result of that would be 1.15 million new jobs and as much as $27.5 billion in additional government revenue.
Labor and business groups in Pennsylvania have jointly expressed their support for increased energy infrastructure development, and for the benefits that it will yield for Pennsylvanians, and for energy consumers everywhere. The state’s Pipeline Infrastructure Task Force — comprised of 48 members from the environmental community, academia, and the energy industry — have put forth 184 recommendations for streamlining and improving the state’s permitting process, increasing safety, and safeguarding the environment.
If Pennsylvania is going to continue to be a national leader in natural gas development, it is of critical importance that we update our energy infrastructure to handle both the supply and the demand.