The analysis details the economic and energy security benefits of the API policy plan

The American Petroleum Institute (API) today released a new analysis detailing the economic and energy security benefits of API’s 10 in 2022 policy plan to restore American energy leadership.

The study found that implementing the 10-point policy framework could spur nearly $200 billion in direct investment, generate more than 225,000 jobs by 2035, and support growth in natural gas production, oil, carbon utilization and storage (CCUS) and hydrogen.

“Amid high inflation and geopolitical instability hitting family budgets coast to coast, Americans are looking to policymakers for solutions, not the campaign rhetoric we have. heard yesterday from the administration,” API President and CEO Mike Sommers said.

“It’s time for policymakers to stop pointing fingers and embrace a new era of American energy leadership that recognizes our nation’s abundant resources, supports energy investment, creates new access, and prevents regulation from restricting energy growth unnecessarily,” he said.

Key findings from the analysis, commissioned by API and conducted by Rystad Energy, include:

  • direct investment: Adopting the policies detailed in the 10-point framework could spur nearly $200 billion in direct investment from 2023 to 2035, helping to support an additional $12.2 billion of U.S. GDP in 2025 and $27 billion in 2035.
  • Production: Policies that allow pipeline investments and support federal leasing could lead to increased natural gas and oil production, including 4.6 Bcf/d of new natural gas production in Appalachia by 2025 The plan could also increase CCUS capacity by 250 metric tons per year (Mtpa) and support 30 Mtpa of new hydrogen capacity through 2035.
  • Use: Policies could support 225,000 new jobs in 2035.
  • Federal revenue: From 2023 to 2035, the plan could generate an additional $4.8 billion in federal royalties, taxes and tender revenues from the development of natural gas and oil on federal lands and waters .

Click here to see the full report.

Click here for the 10 policy plan in 2022.