Oil and Natural Gas Power America’s Economy

The oil and natural gas industry contributes significantly to the U.S. economy as one of the nation’s largest employers and purchasers of goods. Even in a struggling economy, America’s oil and natural gas companies continue to provide well-paying jobs, revenue to governments and investment growth for millions of Americans—totaling an economic contribution that challenges Washington’s idea of stimulus.

Consider it the energy stimulus: $476 billion delivered to the U.S. economy in 2010— equal to roughly 60 percent of the 2009 federal stimulus. It’s a stimulus that didn’t need an act of Congress and which, with the right policies, can be repeated over and over—helping to drive broader economic recovery.

The oil and natural gas industry by the numbers:

9.2 million Number of people directly and indirectly employed by the U.S. oil and natural gas industry.
1.4 million Number of jobs the industry could create by 2030 with the right government policies in place to expand access to domestic natural resources.
$86 million Daily amount companies pay to the federal government in royalty payments, rents and bonus fees.
$100 billion Amount the U.S. oil and natural gas industry has paid to the federal government in rents, royalties and lease payments for production since 2000.
20 percent Percentage that U.S. energy demand will grow between now and 2035.
$266 billion Amount the industry invested in new U.S. capital projects in 2010.
$176 billion Amount of wages paid to U.S. employees in 2010, plus benefits and payments to oil and natural gas leaseholders.
$35 billion Amount of dividends distributed to American shareholders.

 Font: http://energytomorrow.org/

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About Lone Star Sealing Technologies
Lone Star Sealing Technologies was founded in 2004 to better serve the customers of Lone Star Fasteners and Walker Bolt. Our core product line consists of API Ring Joint Gaskets, Proprietary Wellhead Gaskets and Spiral Wound Gaskets. We also provide specialty cut gasket services for our OEM clients as well as general distribution for Raised Faced and Full Faced flange gaskets to ANSI B16.5 dimensions. LoneStar have a variety of high quality of gaskets and other options for fluid sealing applications built to endure, even under the toughest conditions. You can be confident that we go to every extreme to make sure that our products are built to perform. As manufactures and distributors of industrial gaskets for the oil and gas, and petrochemical industries, we know that it takes to produce quality that lasts and we continually tweak product lines in an effort to improve even the most proven gasket in the industry. In 2005 Lone Star acquired the assets of K&W Manufacturing, a Houston based API Ring Gasket producer. Established in 1964, K & W Manufacturing is an industry leader, among a few selected manufacturers in the world, approved by the American Petroleum Institute to apply the API monogram to Ring Joint Gaskets. In 2006 Lone Star acquired Grange Gaskets and Grange Precision Engineering (now Lone Star Grange) based in Leeds, England. Since 1948, Grange has been one of the United Kingdoms premier specialty gasket companies, specializing in Heat Exchange Gaskets of all types and configurations. Grange is world renowned for it's specialty clad gasket capabilities and quick service on spiral wound gaskets.

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