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Expert Facts

Below are several facts about the Marcellus Shale and the oil and natural gas industry.

  • The oil and natural gas industry already supports 35,000 jobs in West Virginia, and over 7,000 new jobs can be created through Marcellus Shale development.
  • State severance taxes could rise frin $50 million in 2010 to $118 million by 2016 - an annual growth rate of 17.6 percent.
  • Development could mean $24 billion in total economic value to the region, which would positively impact all sectors of the economy including the service, construction, manufacturing, health care, and education industries.
  • America’s oil and natural gas industry supports 9.2 million jobs throughout the economy and 7.5 percent of GDP.
  • The national average annual salary for oil and gas exploration and production is $96,844 or about $47 per hour – more than double the average annual salary of all occupations.
  • From 2004-2007, the oil and natural gas industry was responsible for creating nearly 2 million additional domestic jobs.
  • The average U.S. citizen uses about 2 barrels of oil every month.
  • America produces 5.4 million barrels of crude oil per day, 164 million barrels, per month, and almost 2 billion barrels per year.
  • The United States produces 72 billion cubic feet (bcf) of natural gas a day, 2,200bcf per month and 26,000bcf per year.
  • The United States is estimated to have enough natural gas to meet 100 percent of current domestic demand for at least 90 years.
  • The top five producing countries in the world are:
         - Oil: Saudi Arabia, Russia, United States, Iran and China.
         - Gas: United States, Russia, Canada, Algeria and Iran.
  • World petroleum consumption is almost 84 million barrels/day.
  • In 2009, 41 percent of total U.S. energy consumption was used in residential and commercial buildings, 30 percent in industrial activities and 29 percent in transportation.
  • The top five consuming countries in the world are:
         - Oil: United States, China, Japan, India, and Russia.
         - Gas: United States, Russia, Iran, Japan, and the UK.
  • The United States imports oil from all over the world, not just one region. The top five imports come from:
         - Canada (2.1 million barrels per day),
         - Mexico (1.2 million barrels per day),
         - Nigeria (1.1 million barrels per day), 
         - Saudi Arabia (1.0 million barrels per day),
         - Venezuela (1.0 million barrels per day).
  • Over the last five years, earnings for the oil and natural gas industry have been in line with U.S. manufacturing – averaging just 7 cents for every dollar of sales.
  • Since 2000, the oil and natural gas industry has invested $1.7 trillion in U.S. capital projects to advance all forms of energy, including alternatives, while reducing the industry’s environmental footprint.
  • Between 2000 and 2008, the industry invested more than $58 billion in new low and zero carbon emissions technologies.
  • See API.org for references