Energy powers us. Virtually everything we rely upon – food, shelter, clothing, cars, vaccines, medication, cell phones, the internet – is made possible by the natural gas and oil produced by companies like ConocoPhillips.
America’s economy and national security depend upon reliable supplies of affordable energy available in ever-cleaner forms. Our progress as individuals and as a nation is directly tied to safeguarding America’s energy future. Energy matters to all of us – industry employees, small business owners, farmers, rural and big-city neighbors.
Everyone has a stake.
Key to economic growth.
- The natural gas and oil industry employs about 10 million Americans and annually adds trillions of dollars into the U.S. economy.1 2
- The Bureau of Labor Statistics says the oil and gas industry provides an average annual salary of $108,000, nearly twice the private economy’s average.3
- While consumer spending on health care, education and food has surged over the last decade, U.S. household energy expenditures have decreased nearly 15%.4
- According to government and private data, the energy industry is driving nearly $290 billion of capital investments currently being maintained or under construction – from pipelines, refinery and petrochemical expansions, to processing, storage and export facilities.5
- In fiscal year 2020, more than $8 billion from energy development on federal lands and waters will be disbursed to states and Native American mineral owners, providing funding for conservation programs, schools, infrastructure projects and other public services across the country.6
Vital to safeguarding America’s energy security.
- Increased U.S. production has nearly eliminated our reliance on foreign energy sources.7
- One of the great benefits of increased U.S. oil production over the past decade and a half is strengthened U.S. energy security – decreased reliance on foreign oil suppliers, and insulation for American consumers against sudden price increases due to geopolitical events.8
- Our abundant natural gas supply has also nearly eliminated the need to import liquefied natural gas (LNG), leaving it available for nations lacking their own energy sources.
- Energy independence frees the U.S. from reliance on volatile international suppliers.
Finding solutions to improve environmental performance.
- Energy-related emissions of carbon dioxide are at their lowest levels in a generation.9
- Largely thanks to natural gas use in electricity generation, carbon dioxide emissions in the U.S. have fallen nearly 30% since 2005.10
- There’s more important work remaining, and ConocoPhillips is committed to doing our part.
- We’ve set a goal to become a net-zero company for operational emissions (scope 1 and 2) by 2050.11
- We recognize that energy progress must be balanced with environmental sustainability.12
1API: American Jobs
2API: State Economic Impacts
3BLS: Wage Statistics
4API: Safeguarding America’s Energy Future
5API: State of American Energy
6DOI: Disbursements from Energy Production
7API: We Can’t Take Our Energy Security For Granted
8API: We Can’t Take Our Energy Security For Granted
9EIA: Monthly Energy Review
10API: 5 Ways We’re Leading On Climate
11ConocoPhillips: Climate Risk Framework