- Energy Tax Facts
- 24 Apr 14
Wichita Eagle (KIOGA’s Ed Cross): Independent producers generating a domestic energy revolution
The American oil and natural gas industry has been a bright spot in our economy, with benefits felt across the nation and here in Kansas.
Innovations spurred by small businesses and entrepreneurs have generated a domestic energy revolution. American oil and natural gas production is up because the small businesses that make up the independent oil and natural gas industry are committed to investment and job creation in the U.S. and are using technology and innovation to access more and more oil and natural gas reserves.
Our nation’s energy supply is now American and abundant and that is good for national security. This revolution in turn has sparked new life into domestic manufacturing, is supporting 9.8 million jobs and has raised the average household’s disposable income by $1,200 last year, according to a recent study by IHS Global Insight.
According to recent census data, there are over 46,000 small businesses supporting the production of oil and natural gas in the U.S. A 2013 analysis revealed that over 75 different companies could be involved in the exploration and development of one Kansas oil well. The analysis indicated 100 people are employed by varying small businesses in the drilling and completion of one oil well in Ness County, Kan.
Small businesses are the backbone of the Kansas oil and natural gas industry supporting over 67,000 jobs and $3 billion in family income.