Did you know that expanding domestic energy and critical mineral production could create over 1 million new jobs across the United States? Or that removing regulatory barriers could boost the energy sector’s economic contribution by $200 billion annually? And here’s something amazing: rural communities, like those in Louisiana, Oregon, and Colorado, benefit from energy projects through billions in local tax revenues, funding schools, healthcare, and infrastructure. These projects are revitalizing economies, driving innovation, and setting the stage for a stronger, self-reliant America!
The Facts:
- Job Creation Potential: Expanding domestic energy and critical mineral production could create over 1 million new jobs across sectors like mining, manufacturing, and renewable energy.
- Economic Growth: Removing regulatory barriers could boost the U.S. energy sector’s contribution to the economy by an estimated $200 billion annually, driving robust economic expansion.
- Tax Revenue for Communities: Energy and mineral projects generate significant tax revenue for local governments. For example, oil and gas production on federal lands contributed over $9 billion in revenue in 2022, much of which was distributed to state and local governments to fund schools, infrastructure, and public services.
- Revitalizing Rural Economies: Across the U.S., rural communities benefit significantly from energy and mineral development. In 2022, counties with active energy projects saw an average 20% increase in local tax revenue, funding critical services like emergency response and education. States like Texas, Wyoming, and New Mexico have seen billions of dollars reinvested into their communities through energy royalties and severance taxes.
