The Oil & Gas Industry: The Current and Future Backbone of Our Economy

The exploration and production of domestic oil is an increasingly important discussion due to our dependence on foreign oil. In recent decades, the United States has discovered that it is capable of producing much more oil and natural gas than originally expected, with Texas emerging as one of the countrys largest assets. Increasing domestic production has the potential to create thousands of jobs in the United States during a period of elevated unemployment. According to the American Petroleum Institute, the oil and gas industry now supports over 9.2 million American jobs and contributes more than $1 trillion to our national economy - approximately 7.5 percent of our nations wealth. In fact, one out of 20 American jobs is supported by the oil and natural gas industry. Despite efforts to curtail industry growth through increased regulations, domestic oil and gas production has seen a dramatic increase in recent years. In fact, 54 percent of oil consumed in the United States is produced by independent, domestic manufacturers similar to TAP Management Inc. A new study from the World Economic Forum indicates oil and gas extraction created more than 150,000 jobs in 2011, or approximately 9 percent of all jobs created last year. The opening of federal lands and reduced regulation burdens will result in higher domestic production levels, a further increase in American jobs, and lowered gas prices for consumers. Such an increase in production would stimulate economic development and yield a more stable oil supply for Americans. Additionally, the increased production will help further the exploration and development of alternative energy resources. In fact, the American Petroleum Institute reports that one out of every five dollars spent on green initiatives comes from investments made by the oil and natural gas industry. In other words, the oil and gas industry is fueling our nations green initiatives by investing in alternate energy resources, helping our country achieve energy independence. TAP Management Inc. has played an avid role in increasing the production of oil and natural gas in Texas, New Mexico, Louisiana, Oklahoma and Wyoming. Since its founding in 2005, the company has utilized three-dimensional seismic technology to develop a successful portfolio of producing assets throughout these regions. To learn more about TAP Management Inc. and how we are reducing our nations dependence on foreign oil through innovative drilling and exploration, visit www.texog.com.