What is the story about?
What's Happening?
A study by Rystad Energy, commissioned by the American Exploration & Production Council, highlights the significant role of independent oil and gas producers in the U.S. economy. From 2022 to 2024, these producers accounted for over 85% of crude and condensate output and more than 90% of natural gas production. In 2024, they supported 3.1 million jobs and contributed $277 billion in labor income. The study emphasizes the economic impact of independents, noting their contribution of $488 billion to GDP and their role in maintaining U.S. energy security.
Why It's Important?
The findings underscore the critical role of independent producers in sustaining the U.S. energy sector and economy. Their contributions to job creation and government revenue highlight their importance beyond energy production. This sector's performance is vital for economic stability and growth, influencing policy decisions and investment strategies. The study reinforces the need for supportive regulatory environments to ensure continued contributions from these producers.
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