ODESSA, Texas — The American Petroleum Institute gave their annual update on the state of American energy on Wednesday, providing insight into the recent successes, challenges and just general state of the oil and gas industry all around the country.
API said the stability that the U.S. oil and gas industry provides is at risk for future generations due to short-sighted policies by policy makers and hostilities toward American energy.
The institute also touched on the state of areas like the Permian Basin and the role they play in the country.
According to API President and CEO Mike Sommers, West Texas is doing pretty well.
"The Permian Basin continues to be the most prolific region in the United States in terms of oil and natural gas production," Sommers said. "Both on the Texas side and on the New Mexico side, which is primarily federal land. We expect that the Permian Basin is going to continue to be the most prolific basin in the United States for years and even decades to come. And you can see that based on the investment that is happening in your own community."
Sommers went on to mention how he believes the recent education bonds passed in Midland and Odessa will be a good thing for the industry in the long run.
“I’ve spent my fair time in the Midland-Odessa area, it’s a wonderful community, and I was pleased to see the recent bond measures passed to improve the schools within the Midland-Odessa basin," Sommers said. "We’re going to need an educated workforce going forward in that area.”
Speaking of education, API also unveiled a new campaign that will focus on educating both policy makers and the public on the oil and gas industry, and what’s at stake if policies don’t allow the industry to prosper.