Tracee Bentley, Permian Strategic Partnership, discusses their recent report “The Permian Basin: Unlocking The Full Potential“. She explains how the Permian Basin contains more than 92 billion barrels of proven oil reserves and enough natural gas to meet U.S. household energy needs for the next 60 years.
In addition Bentley cites impacts in economic development, job growth, tax revenues, renewable partnerships and infrastructure developments. Here are some bullet points from the report:
State Benefits:
- 203,000 industry jobs in Texas
- 22,000 industry jobs in New Mexico
- $2.42 billion towards education in Texas in 2019
- $1.52 billion towards education in New Mexico in 2019
- 10.89 percent of Texas GDP
- 18.31 percent of New Mexico GDP
Investment Impact
If $1 billion were invested in Permian Basin roads:
- 4,500 fewer fatalities and injuries
- 2.1 million fewer hours in traffic delays
- $1.5 billion in economic benefits from increased safety and fewer delays
Future Benefits
- $87.2 billion towards education in Texas over next 30 years
- $18.5 billion towards education in New Mexico over next 30 years
According to Bentley, many of the roads in the Permian are antiquated and need to be replaced. The idea of many of the roads across Shale Play USA are old agriculture roads that saw a couple combines during harvest season and pick up trucks, now they have semis and SUVs daily.
The interview also talks about some of the geographical facts of the Permian and depths.
ESG integration, public awareness and a Colorado comparison are also discussed in the interview.
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