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API predicts massive oil industry spending spree

Posted on 13 January 2014

Energy companies will spend close to $1 trillion on oil and gas infrastructure and storage over the next decade, to support more than 900,000 US jobs as the US becomes the global leader in oil production capacity growth, according to a new report from the American Petroleum Institute (API).
The report, conducted by IHG Global, estimates that between $85 billion and $90 billion of direct capital will be invested this year alone to build new pipelines, storage and processing facilities, and rail cars and marine vessels needed to transport oil and natural gas across the country………………………………….Full Article: Source


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