USA Pipelines Survey details economic benefits for manufacturing.
Press Release Summary:
Commissioned and released by NAM, IHS Economics study examining benefits of crude oil pipelines reveals impact crude oil pipelines have on U.S. manufacturing growth and employment as well as advancement and development potential for manufacturers if new crude oil pipelines are constructed. Study includes numbers on miles of future and existing crude oil transmission pipelines in USA, jobs supported by said pipelines, affected industries, and benefitting manufacturing subsectors.
Original Press Release:
America's Pipelines: Fueling the Manufacturing Economy
NAM Releases New Study Examining Benefits of Crude Oil Pipelines by Mallory Micetich
Washington, D.C. – A new study from IHS Economics and commissioned by the National Association of Manufacturers (NAM) reveals the impact crude oil pipelines have on U.S. manufacturing growth and employment and the advancement and development potential for manufacturers if new crude oil pipelines are constructed to take advantage of the U.S. energy renaissance.
“Manufacturers benefit from both pipeline construction and pipeline maintenance, and as our network of these crude oil pipelines grows, so does manufacturing opportunity,” said NAM Vice President of Energy and Resources Policy Ross Eisenberg. “For manufacturers, this study illustrates yet another reason why the Administration, Congress and our state and local leaders should be encouraging crude oil pipeline investment.”
Key highlights from the study include the following:
In 2015, 6,805 miles of new crude oil transmission pipelines will be constructed in the United States at a cost of $11.57 billion. This is on top of 61,379 miles of onshore crude oil pipelines operating in the United States at the end of 2014.
From both construction and maintenance in 2015, crude oil pipelines supported 276,497 jobs, including 26,884 manufacturing jobs.
Crude oil pipelines contributed $31.4 billion to GDP, including $4 billion from manufacturing.
Top employing industries for crude oil pipelines include fabricated metals, machinery, chemicals, nonmetallic minerals and primary metals.
At least 66 different manufacturing subsectors, out of 86 total, benefited from the construction of crude oil pipelines by $10 million or more in 2015 alone. These include iron and steel, fabricated metals, cement, machinery and paints and coatings.
To learn more about this study, click here, and to read the full study, please visit our website.
-NAM-
The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.09 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.
