economic opportunities from oil and gas well remediation
TRANSCRIPT
Overview of the REGROW Act
The bipartisan Revive Economic Growth and Reclaim Orphaned Wells Act (S. 1076) was introduced by Sens. Luján (D-NM) and Cramer (R-ND) to fund the remediation of orphaned oil and gas wells across the country. Orphaned wells are defined as any oil or gas well without a legally responsible entity to properly plug the wells or restore the site.1 Leaks from orphaned wells can contaminate groundwater and release methane that contributes to climate change. Remediating orphaned wells can protect human and environmental health, generate new jobs, and create opportunities for future investment in these abandoned sites.
The energy sector experienced significant jobs losses due to the COVID-19 pandemic and ensuing economic recession. This bill would support the creation of new jobs in the sector while mitigating environmental and public health risks.
BPC assessed the economic impacts of investing in the remediation of oil and gas wells as part of a broader energy and infrastructure economic modeling analysis.2 The following results are based on the level of investment specified in the REGROW Act.
1 https://www.aaas.org/programs/epi-center/management-of-wells
2 https://decarbamerica.org/technical-results/
Economic Opportunities from Oil and Gas Well Remediation
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State
Average Annual Jobs*
Supported
Average Annual Contribution
to GDP
Alabama 84 $8,842,258
Alaska 13 $2,166,984
Arizona 128 $14,775,345
Arkansas 55 $5,665,038
California 798 $131,531,354
Colorado 121 $16,031,496
Connecticut 77 $12,576,286
Delaware 20 $3,363,532
Dist. of Col. 31 $5,017,676
Florida 413 $46,458,276
Georgia 200 $26,398,680
Hawaii 30 $3,836,054
Idaho 33 $3,357,089
Illinois 546 $72,377,414
Indiana 139 $16,607,714
Iowa 67 $8,183,828
Kansas 418 $51,365,312
Kentucky 917 $111,582,609
Louisiana 336 $41,805,561
Maine 27 $2,704,416
Maryland 116 $15,826,090
Massachusetts 169 $25,226,086
Michigan 197 $23,159,482
Minnesota 132 $16,570,120
Mississippi 47 $4,532,149
Missouri 125 $13,954,987
State
Average Annual Jobs*
Supported
Average Annual Contribution
to GDP
Montana 20 $2,051,867
Nebraska 44 $5,322,585
Nevada 67 $8,066,371
New Hampshire 30 $3,773,443
New Jersey 189 $27,758,259
New Mexico 33 $3,721,048
New York 553 $91,308,499
North Carolina 196 $23,877,463
North Dakota 17 $2,227,596
Ohio 250 $30,714,212
Oklahoma 154 $18,996,177
Oregon 86 $10,136,607
Pennsylvania 825 $102,744,565
Rhode Island 23 $2,558,123
South Carolina 98 $10,260,870
South Dakota 18 $2,285,799
Tennessee 140 $16,280,459
Texas 954 $128,023,098
Utah 65 $7,597,466
Vermont 14 $1,379,466
Virginia 169 $20,988,989
Washington 149 $23,359,146
West Virginia 320 $39,188,251
Wisconsin 131 $14,888,326
Wyoming 204 $25,414,764
*includes direct, indirect, and induced jobs
National Economic Impact: The REGROW Act could
Support nearly 10,000 jobs*per year
EMPLOYMENT
Contribute $1.3 billion per year to GDP
GROSS DOMESTIC PRODUCT