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 of perennial top-oil producing nations like Saudi Arabia, Russia, China, Canada, and Venezuela.
As a result, spending in the infrastructure necessary to support our energy boom has increased — about 60% from 2010 to 2013. 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.
Expect studies have shown that updating our national energy infrastructure could have wide-reaching benefits. Projections show that infrastructure updates have the potential to generate as much as $1.14 trillion in new capital investments by the year 2025.
And the benefits don't stop there.
Expert analysis shows that a national committment to updating our energy infrastructure could support up to 1.15 million American jobs per year — with more than 830,000 jobs alone coming from investments in our energy pipeline network. All told, energy infrastructure could contribute upwards of $120 billion to the American economy per year, and generate as much as $27.5 billion in yearly government revenue.
If America is to continue to lead the world as the top producer of oil and natural gas energy, we must have the infrastructure necessary to secure our nation's energy future.