The United States has been held hostage for decades by other oil producing countries who every few years drop their pricing significantly below the then current market prices to wreck the entire world market…
The true victims of this “perfect storm” of foreign oil price wars and the worldwide COVID pandemic are American oil and gas workers, and in particular, independent producers in the Permian Basin.
Read the latest report from UTPB
While we fully realize that United States Gulf Coast refineries operate at their most efficient when they are refining a blend of 65% lighter West Texas Intermediate with 35% heavier foreign produced crudes, it is reasonable to believe that not all imports of foreign crudes (especially Saudi and Canadian) are driven by market demand.
HOW YOU CAN HELP
With your support we can level the playing field in the pricing of oil worldwide
and keep Americans working in the Permian and all across the country.
The Permian's Impact on the United States
The impact of Permian Basin production on the US includes not only effects in Texas, but also spillover to other states. The Perryman Group estimates that under normal market conditions as observed in 2019, the total economic benefits to the United States associated with oil and gas activity in the Permian Basin are estimated to include almost $187.2 billion in gross product each year and more than 1.5 million jobs.
Real Gross Product Benefits to the United States of Permian Basin Production by Impact Source
Employment Benefits to the United States of Permian Basin Production by Impact Source
The Perryman Group Report, May 2020
How the Permian Basin Became North America's Hottest Oilfield | WSJ, June 2019