The Ohio Petroleum Council (OPC) has applauded the Ohio House of Representatives passage of HCR 9, a resolution urging the federal government to approve construction of the Keystone XL pipeline. The resolution now moves to the Ohio Senate for approval.
Todays vote shows the growing understanding about the game changing opportunity the oil and gas industry can have on Ohios working families, OPC Executive Director Chris Zeigler said. The White House has an opportunity to approve the pipeline and create thousands of jobs today. This investment in America will also go a long way to generating government revenue in the state while enhancing the nations energy security.
The combined economic benefits of the Keystone XL pipeline and our states emerging shale energy industry will provide millions of Ohioans with a real opportunity for long-term job security and economic prosperity, Zeigler said.
The OPC applauded the resolution to approve the pipeline, sponsored by Rep. John Adams and supported by Chairman Mike Dovilla, as a step forward in helping fuel job and economic growth in the state. It also noted that the pipeline will increase Ohios GDP by $9.6 billion over the next 25 years, according to Canadian Economic Research Institute. Last year alone, Ohios oil and gas industry created more than 38,000 new jobs and projections indicate the industry will create over 266,000 additional jobs by 2035.
OPC is an arm of API, which represents all segments of Americas technology-driven oil and natural gas industry. Its more than 500 members provide most of the nations energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.