Drilling Safety, Energy Security

Our industry's longstanding commitment to safe operations was questioned by some after last year's tragic spill in the Gulf of Mexico. Today, we have more than 20 industry groups working concurrently on improving spill prevention and response. Oil companies are committing resources in the form of dollars, time and expertise to ensure that these improvements are implemented.

In March, we announced the creation of the Center for Offshore Safety. It will bring our best minds and expertise together to help operators strive for and maintain the highest levels of safety performance across the entire industry.

We have worked hard to meet the requirements for resuming operations in the Gulf. That's important because we need those energy resources, both today and in the future. Oil and natural gas currently supplies more than 60 percent of our nation's energy needs. The Energy Information Administration projects that by 2035 oil and natural gas will still meet 55 percent of our energy needs.

Those needs make domestic production vital. Because of that, safety and production must go hand-in-hand. Unfortunately, since May 2010, production from the Gulf has been declining: The EIA projects that overall domestic oil production will decline this year and that Gulf production will be down more than 25 percent in 2012 over 2010 - 2011 may be the first year without a Gulf lease sale since 1964, and the first year with no federal offshore lease sale since 1957.

A recent study by the consultant firm Wood Mackenzie shows that if the permit process is not speeded up, as much as 680,000 barrels of oil equivalent Gulf production a day could be at risk in 2019, and associated job losses could reach 125,000 by 2015.

More access to our domestic resources will create more jobs. The oil and natural gas industry can play a key role in our economy recovery. As an industry, we are committed to harnessing energy safely and in a manner that protects people and the environment. We are also committed to providing the fuel a global economy needs to grow and to create more jobs.

We all share the goals of safe drilling. We all share the goals of economic growth. Our industry is ready to meet these goals, and we are committed to working with our government partners to do so.

Comments

Related

Blog Posts

Video: FracFocus.org and the Shale Energy Revolution

We extended first-anniversary greetings to FracFocus.org last month, but it bears repeating as the folks at the Groundwater Protect...

Blog Posts

Report: Industry Commitment to Workplace Health, Safety...

According to a new API report, the U.S. oil and natural gas industry’s workplace safety record measures favorably with the private...

Blog Posts

Massachusetts, Jobs and the Shale Energy Revolution

Interesting report in the Boston Globe about how a ripple of economic benefits from shale natural gas development is reaching a non...

Blog Posts

Generation Next: Securing Tomorrow’s Energy Industry...

Recently, ExxonMobil Development Co.’s L.M. Tillman addressed a gathering at the Offshore Technology Conference on the subject of e...

Blog Posts

Keystone XL: Safety, Reliability and Jobs

TransCanada President and CEO Russ Girling has a letter to the editor in the New York Times after the newspaper’s recent editorial...

Blog Posts

Stop-Gap Energy vs. Stable Energy

Scroll down a bit in this wrap-up of last weekend’s G8 Summit from The Hill newspaper, and you’ll see that the president and other...

Blog Posts

Made in America: Increase Access for Secure Energy Futu...

American-made energy. With the Energy Information Administration projecting that the United States will need more than 16 percent a...

Blog Posts

Video: Water Management is in Everyone’s Interest

Check out this video by WPX Energy that describes the careful way energy companies are using water from Donegal Lake in south centr...

Blog Posts

Study: E15 Could Put Some Engines at Risk

More on the potential risk to America’s car and truck fleet posed by E15 – gasoline containing 15 percent ethanol that has EPA appr...

Blog Posts

Watch Live: Energy in an Election Year

.blog #main .post-body .video-wrapper { width:500px; height:418px; padding:0; overflow:visible; margin:0 auto 18px; } ....

Blog Posts

Job Creation To-Do List? Here’s Ours

Here’s the president talking about job creation Tuesday in Albany, N.Y.: “Now, we know the true engine of job creation in this...

Blog Posts

To the President’s Ear: Build the Keystone XL

In an interview with Fox Business Channel this week, billionaire Warren Buffett voiced support for construction of the Keystone XL...

Blog Posts

Facts, Not Excuses, Should Guide Decision on Re-Routed...

It’s good to hear that TransCanada has submitted its new application for a presidential permit to build the Keystone XL pipeline. T...

Blog Posts

Ohio Summit: Talking Energy, Jobs

Editor’s note, 5/3: The event has concluded; see below for the archived videos. There’s not a better venue for a high-level discu...

Stay Connected