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Oil: the Lifeblood of the U.S. Economy

By Bob Vitale on 02/18/2015

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In the debate over sustainable energy, all sides should remember that oil is the lifeblood of the U.S. economy, as it fuels all business, literally and figuratively.

America’s reliance on foreign oil (some would say addiction) has left us vulnerable on the international stage. It would be a gross understatement to say that many of the world’s major oil producers do not have our best interests at heart.

One of the easiest ways to extricate ourselves from this situation would be to increase domestic oil production, with the goal being full energy independence. Fortunately, according to the newest figures, this scenario is very possible -- even probable.

In recent years, there has been a huge boom in American oil production. Not only is more petroleum being produced, but safer and cleaner fuel is being made by and for Americans. As this energy renaissance continues, organizations such as Midwest Industrial Supply, Inc. are there to help minimize the environmental impact of these activities and to maximize profit.

The Role of Oil in America’s Economic Recovery

In their 2015 Report, the American Petroleum Institute illustrated the ways in which the increased availability of American oil is improving the lives of everyone. Among these exciting announcements, the surge in domestic production from five million barrels a day in 2008 to 8.6 million barrels a day in 2014 signifies a drastically reduced demand for imported oil. Moreover, in 2011 alone, oil and natural gas added $1.2 trillion to the American GDP, with the industry currently supporting 9.8 million jobs and 8% of the economy.

The report predicts that up to 1.3 million oil and natural gas job jobs could be created by 2030, opportunities that women and minorities stand to benefit from in particular.

Increased oil production is essential to match our economy’s growing appetite in the years ahead, as U.S. oil demand is predicted to increase by 12% between now and 2040. As the calls for cleaner gasoline grow louder, production must rise to meet that demand.

While our elected officials would do well to continue supporting the domestic refining industry, additional steps must be taken to sustain the increase in domestic oil production. Among these initiatives, the Keystone XL pipeline and the opening of federal and offshore lands for exploration are two ways to ensure that we can continue to enjoy the benefits of production. As America remains on track to becoming the world’s largest oil producer, the government must adjust regulations accordingly.

Midwest as a Solution to Keep the Lifeblood Flowing

Midwest offers various products and strategies to ensure that the domestic oil industry can transition smoothly into this new era. Our solutions offer alternative, durable construction options for township and community roads and drilling pads, prevent and mitigate road dust, lower maintenance costs, address rutting, pothole, and washboarding issues, alleviate concerns over health and safety, and help exploration & production and midstream companies ensure regulatory compliance.

In short, Midwest keeps local residents, company employees, equipment, and the product safe along every step of the way. With our products and services, oil production need not be a messy affair. As this resource plays a critical role in our nation’s economy and security, we must take care to guarantee it is extracted in a clean and secure manner.

About Author

Bob Vitale

Written by Bob Vitale

Bob is founder and CEO of Midwest Industrial Supply.

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