Processing Magazine

Study: Expanded oil, gas drilling could create 1.4 million jobs by 2030

September 8, 2011

WASHINGTON — According to a study commissioned by the American Petroleum Institute, oil drilling in the U.S. could create more than 1 million jobs by 2030, Reuters reported.

The study’s findings indicate that 1.4 million new jobs could be created if the U.S. expanded offshore drilling, limited federal regulation of shale gas development and moved quickly to approve a Canadian oil sands pipeline.

The study also said that expanding oil and gas production would generate more than $800 billion in additional government revenue by 2030 from taxes and drilling leases.