U.S. Chamber President highlights overall economic boost provided by rising oil and gas production

Low energy costs have driven economic growth, which is increasing the demand for oil and gas.

In a recent speech, U.S. Chamber of Commerce President Thomas Donohue called attention to the fact that expanded domestic production of fossil fuels is having a broad positive effect on multiple sectors of the U.S. economy.

In particular, the Chamber executive highlighted the downward pressure an expanding supply has placed on domestic gas prices, and the competitive advantage this has conveyed on U.S. businesses. He noted that this effect has been especially beneficial for companies involved in manufacturing and other energy-intensive industries.

Donohue asserted that by “fully embracing America’s energy opportunity, we can accelerate growth, create millions of new jobs, free ourselves from some less-than-stable global suppliers, and create huge new revenues for government, which will help reduce budget deficits.”

Furthermore, Donohue noted in his speech that increased demand for natural gas will fuel additional exploration and production activity. This will inevitably drive oil and gas companies to expand their operations into more challenging areas. The use of modern hydraulic lift equipment will be critical for ensuring that oil and gas wells sited in these regions are able to achieve maximum output.

Installing a hydraulic jet pump can be a particularly beneficial approach for companies looking to increase their production in a cost-effective way, although other artificial lift solutions can also be highly useful in that regard.

Producers interested in learning more about what modern hydraulic lift technology can do to improve their operations should contact an established provider of oil production equipment. Using proven solutions helps a company ensure that it is upholding the highest possible levels of safety and efficiency.