Key Findings:
• The West is projected to generate 1.3 million barrels of domestic oil and condensate production a day by the year 2020, an amount that exceeds the current daily oil imports from Russia, Iraq and Kuwait combined.
• The West has the potential to produce 6.2 trillion cubic feet (Tcf) of natural gas annually by 2020, an additional one Tcf from 2010 levels.
• Combined, western oil and natural gas is projected to produce more energy on a daily basis than the total U.S. imports from Saudi Arabia, Iraq, Kuwait, Venezuela, Colombia, Algeria, Nigeria, and Russia.
• Investment in western energy development could increase to $58 billion annually by 2020. This prospective growth is more than double the investment made in 2010.
• The number of direct, indirect and induced jobs in the oil and natural gas sector is projected to increase by 16% to 504,120 by 2020.
• Annual state severance tax collections in the West are projected to increase from $2.1 billion in 2010 to $5.6 billion by 2020, generating a significant revenue windfall for schools, infrastructure and other basic services.
July 8, 2011The Blueprint for Western Energy Prosperity
Western Energy Alliance is an advocacy organization that promotes the beneficial use and development of natural gas and oil in the West. Western Energy Alliance was originally formed as the Independent Petroleum Association of Mountain States (IPAMS) in 1974.
Western Energy Alliance represents over 400 independent natural gas and oil producers, service and supply companies, banking and financial institutions, and industry consultants committed to environmentally responsible oil and natural gas development in the West.
An outstanding professional staff, state Vice Presidents, Basin Advisory Groups, active working committees, and a committed Board of Directors collaborate as advocates for independents operating in the Intermountain West.
Comprehensive representation in Washington and across the West focusing on: access to government lands for exploration and production, federal agency permitting, air and water quality, reform of the National Environmental Policy Act (NEPA) and Endangered Species Act (ESA), wildlife conservation, health and safety, taxation, and other issues.
Established relationships with lawmakers and their staffs is fostered by regular trips to Washington, D.C. to meet with Congress and the Administration.
Policymakers view Western Energy Alliance as a valuable resource on all issues related to oil and natural gas development in the Intermountain West.
Western Energy Alliance Speaker Series luncheons, frequent symposia, workshops, and conferences focus on regional, national, and global outlooks, marketing, transportation, technology, and other current issues.
Western Energy Alliance publishes the highly regarded Wildcatter Weekly, an executive summary of the week’s events impacting natural gas and oil producers in the Intermountain West.
Western Energy Alliance provides networking opportunities with others conducting business in the same areas. Service companies, financial institutions, accounting and law firms, and E & P companies are all part of the Intermountain West petroleum community.
http://westernenergyalliance.org/
PDF File ~ http://westernenergyalliance.org/wp-content/uploads/2011/07/Blueprint-for-Western-Energy-Prosperity.pdf
