Below are some of the statistics that look at the benefits of US crude exports.
Aspen/MAPI
- US$165 billion increase in GDP in 2019 – 2021.
- 650 000 jobs added at peak in 2019.
- Real household income increases of US$2000 – 3000 /household in 2025.
- All manufacturing jobs would see an average gain of 37 000 /y through 2025.
- Construction jobs would grow by over 217 000 in the peak year 2017.
- Related professional services jobs would grow by an average of 148 000 /y.
- Capital investment for machinery would increase by US$7 billion in 2020.
Brookings/NERA
- Boost in economic growth, wages, employment, trade and overall welfare.
- Throughout 2015 – 2039, GDP could rise by US$550 billion – US$1.8 trillion.
- Production could rise by 1.3 million – 2.9 million bpd in 2020.
- Unemployment could on an annual average fall 200 000 – 400 000 from 2015 – 2020.
Columbia
- Crude oil production could increase anywhere between 0 and 1.2 million bpd between now and 2025.
- Domestic gasoline prices would likely fall by 10 – 12 cents/gal.
- US credibility in current and future trade negotiations would be enhanced.
ICF International and EnSys Energy
- Up to US$5.8 billion estimated reduced consumer fuel costs year 2015 – 2035.
- Up to US$70 billion more investment by 2020.
- Up to 500 00 bpd increase in domestic crude oil production by 2020.
- Up to US$38 billion projected GDP gain in 2020.
- Up to 300 000 potential job gains in 2020.
- US$13.5 billion estimated government revenues increase in 2020.
- US$22 billion estimated reduction of trade deficit in 2020.
- 100 000 bpd increased in refinery throughput between 2015 – 2035.
IHS
- Crude oil production would increase 1.2 million bpd average 2016 – 2030.
- US economy to support an average of 394 000 more jobs 2016 – 2030 with 964 000 jobs in 2018 when at its peak.
- GDP would rise by nearly US$73 billion in 2016.
- GPD would rise by over US$134 billion in 2018.
- Total government revenues would rise by US$1.3 trillion between 2016 and 2030.
- Average disposable income per household would increase by an additional US$391 in 2018.
Adapted from report by Claira Lloyd