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U.S. Department of Energy
Office of Scientific and Technical Information

State of the petroleum industry: Hearing before the committee on energy and natural resources, United States Senate

Book ·
OSTI ID:20000400
This hearing was held to consider the plight of the oil industry. The domestic industry is being devastated. The potential long range impact of low prices on the country will be immense. Although, the current low petroleum prices have helped fuel a brisk national economic growth in all segments of the economy, the low prices are killing the domestic oil industry. These low prices are causing a loss of a petroleum infrastructure as more and more Americans in the oil industry are forced out of the business. Not only is this bad for producers, it is forcing the US to become dependent on unstable producing countries. Every drop of oil produced in the US means jobs and income for the states and the nation. Every barrel imported means increased dependence and loss of jobs. The committee heard from the following: US Senators from Indiana, New Mexico, Montana, North Dakota, Illinois, Texas, South Dakota, Louisiana, Arkansas, Mississippi, Alaska, Oklahoma, and Wyoming; and representatives from the petroleum industry, and the Energy Information Administration.
OSTI ID:
20000400
Country of Publication:
United States
Language:
English