The American Economy Needs the Energy Sector

The American Economy Needs the Energy Sector

November 6, 2020

The Coronavirus Pandemic has affected the U.S. economy more than anyone ever thought possible. While the left continues to cry out for more regulations on the energy industry, it is clear that a successful recovery requires the oil and gas industry.

Dan Brouillette, the Secretary of the U.S. Department of Energy, and recently wrote an op-ed discussing this exact issue. 

No matter where you stand, the truth is that arbitrarily halting oil and natural gas development would do serious harm to our economy, jeopardize America’s post-pandemic recovery, and deny ourselves of a critical innovation engine for cleaner technologies.

Secretary Brouillette also points out that the oil and gas industry contributes more than just affordable energy to American homes and businesses. The tax revenue from these businesses also helps support various public services. 

Between 2012 and 2025, the oil and gas industry is projected to support $1.6 trillion in federal and state tax revenue, supporting the maintenance of schools, hospitals and public infrastructure across the country. If the oil and gas revenue stream dries up, major public services will be reduced or even cut.

The U.S. will not make a financial recovery without a booming oil and gas industry. American families deserve reliable, affordable energy right now more than ever. Hard-working men and women in the industry deserve to work without the fear of political agendas threatening their jobs. Right now, Americans need certainty. The energy industry is currently providing that, and it’s no time to take it away.