California oil and natural gas mean growth. And, Californians need ample, affordable and reliable energy to thrive – to power our homes, farms, businesses and schools, fuel our cars, and produce products that we need and use every day.
While other industries like entertainment and technology dominate headlines, the energy industry quietly elevates Californians to the middle class and provides affordable energy resources that improve the quality of our lives. The oil and natural gas industry’s economic activity in the state was valued at around $72 billion based on 2013 data in a study recently released by the Los Angeles County Economic Development Corporation. About $40 billion of that supports jobs in a wide range of sectors including construction, manufacturing and public safety.
The local oil and natural gas industry allows us to consume energy that is produced in California, by Californians, for Californians. The Golden State has 5 of the 12 largest oil and natural gas fields in the lower 48 states, based on 2009 estimated proved reserves. Yet, even with these abundant resources, California still imports about 60% of the oil and 90% of the natural gas we consume in the state.
As the state’s largest oil and natural gas exploration and production company on a gross-operated basis, California Resources Corporation (CRC) takes pride in providing energy that is critical to our local economy and our state. In an effort to provide facts and information about the industry, CRC is sponsoring a website called PoweringCalifornia.com to highlight the importance of energy independence for the state, the safety of oil and gas production and how seriously we take it, the efforts made by the industry to conserve water and protect the environment, and the economic contributions of our industry.