Energy, Jobs and America

My Heart is with the Independents – it’s the little guys who are making it happen. Creating jobs that is.  According to the IPAA, there are nearly 18,000 independent oil and gas producers in America.  A surprising figure to most is that on average, they employ 11 employees, but their work product, ie, the generating of oil and gas drilling prospects, generate multiple jobs for everyone else down the food chain – and there are lots of them.  Landmen, geophysical workers, truck drivers, pipe manufacturers, drilling contractors, roughnecks, pipeline companies, oil and gas marketers, traders, refining personell, and more.

Their Output – here’s a startling stat for you.  Independents drill 95% of the wells in the U.S. and produce 85% of the nat gas and 54% of the crude oil in this country.  That amounts to 4% of the entire U.S. gross domestic product, supporting almost 4 million American jobs.  Moreover these are great paying jobs for the most part.

The Upshot – we’re a long way from the notion of “energy independence” in this country.  A very long way.  In the meantime, let’s be realistic (and thankful) to an industry and it’s people who are making our lives more enjoyable through supplying the energy we need to make our lives go round.

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.

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