The Permian Basin is among the most important oil-producing regions in the world. The region is crucial to simultaneously meeting future energy needs as well as climate goals through cleaner burning conventional fuels as well as renewables and other initiatives, knowledge, and technologies to support emissions reductions.

Drilling and production and the necessary supporting industries such as service companies, pipelines, related manufacturing, headquarters operations, downstream products, and other aspects of the energy sector generate billions of dollars in business activity not only in the region, but across Texas, New Mexico, and the nation.

This business activity brings substantial tax and royalty revenue to Federal, State and local governments. Additional benefits include enhanced energy security for the United States and other nations in addition to improvements in the trade balance fostered by energy exports.

For more details please refer to the full report.