“While Texas is already familiar with the economic and energy benefits of offshore operations in the Gulf of Mexico, it has also touched many communities beyond the state. For more than 50 years, the operations here have been the backbone of the U.S. energy industry, and as a direct result, we have been able to lessen our energy dependency on foreign nations, bolster U.S. investments and jobs, and strengthen our national security. Tourism and recreation industries in the Gulf significantly increased jobs, wages and economic contributions from 2005 to 2014, according to Ocean Economics.”
Milito went on to highlight the great lengths the industry was taking to ensure the safety of their operations:
“New ideas and advances regarding standards, policies, and best practices are essential to safe and efficient offshore oil and natural gas operations, as well. The American Petroleum Institute publishes industry technical standards under a process that is accredited by the American National Standards Institute. Since 2010, more than 100 standards were created or strengthened, including for improved safety and environmental management, well design, blowout prevention and spill response to ensure we have the best protections and highest safety measures in place.”
Thanks in large part to these projects in Texas, the United States is now the “undisputed leader in oil production” and the state of Texas is enjoying its many economic benefits. The $11 billion in taxes from the Texas oil and gas industry in 2017 helped fund many state-run projects and ensure a strong public education for the next generation of Texans.