U.S. Oil And Gas To Contribute $1.9 Trillion To U.S. GDP By 2035

8 May 2017   USA

Since U.S. oil production started recovering at the end of 2016, coinciding with a pro-oil administration entering the White House, industry bodies and analysts have been projecting that the U.S. shale patch output will continue to rise. Earlier this week, the American Petroleum Institute (API) released a study it had commissioned which claims that not only will production grow, but investment in oil and gas infrastructure will contribute between US$1.5 trillion and US$1.89 trillion to U.S. GDP by 2035, or between US$79 billion and US$100 billion annually. Energy infrastructure is a leading catalyst for economic growth, said the oil industry association in the study commissioned to ICF. The study also sees rapid oil infrastructure development likely to continue for a prolonged period, with total capital expenditures (capex) for oil and gas infrastructure development between 2017 and 2035 ranging from US$1.06 trillion in the base case to US$1.34 trillion in […]

Comments are closed.