Chris Zeigler is executive director of the American Petroleum Institute of Ohio.
For weeks, Ohioans have woken up every day to find that the average price of a gallon of gasoline is higher than when they went to bed. As a result, gas prices have become a topic of conversation at the breakfast table, and then again at the dinner table.
We know that oil prices fluctuate for a variety of reasons including crude oil prices, supply disruptions, traffic problems and other market trends. But the extreme, unsustainable rise in oil prices we are experiencing, which is having a profound effect on our entire economy, cannot be caused by a single factor such as a refinery shutdown, a temporary pipeline shutdown, or the weather.
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As our country’s economy begins to improve, the epidemic that has created an epidemic between electricity supply and demand, the lack of good policy in Washington, and the recent efforts to obtain energy from foreign governments are of great importance.
In order to encourage policymakers to unlock the full potential of American energy development, promote the recovery of our nation’s economy, and strengthen our nation’s security, the American Petroleum Institute recently released its 10-in-22 Plan.
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Among other things, the plan urges the Biden administration to eliminate restrictions on natural gas and oil in land and water, encourages the development of important energy sectors, and promotes the opportunity for companies to open large markets – without government barriers.
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There is no doubt that our country needs strong leadership from policy makers, industry leaders and other stakeholders. Ohio is a leader among the nation’s energy producers – committed to providing the American people with affordable, reliable, sustainable gasoline and other petroleum products.
Yet even within our own state, we remain vigilant against policies that hinder the development of our energy or increase the cost of producing Ohio-produced oil and other energy products through energy or other forms of government.
Ohio’s natural gas and oil industries contributed 375,000 jobs to the state economy in 2019, based on previous data. Ohio ranks among the top states in total revenue generated by natural gas and oil, including $24.6 billion added to gross labor income and $58.7 billion in gross domestic product.
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And Ohio’s gas and oil industry continues to attract investment.
A recent report prepared by JobsOhio, a non-profit state economic development organization, found that these companies invested $2.3 billion in Ohio in the first half of 2021. From 2011 to 2021, approximately $95.3 billion has been invested in the industry. Of this, $65.9 billion was invested in the uplands, $21.4 billion in the middle of the rivers, and $8 billion in the lowlands.
In addition, the Occupational Safety and Health Administration recently certified an Ohio refinery as a Voluntary Protection Program site, recognizing the facility for implementing safety and health measures.
The American Petroleum Institute’s 10-in-22 Plan provides concise, clear solutions that policymakers in Washington can implement immediately. I hope that our elected officials will act quickly to demonstrate the strength of our country to overcome our economic problems.
In the meantime, Ohio’s energy industry will continue to do its part.
Chris Zeigler is executive director of the American Petroleum Institute of Ohio.
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