If the United States oil and gas industry were to boost production by 50 percent over the next 25 years, the ramped-up supply would lower energy costs, create 140 million jobs, and add $25 trillion to the nation’s economy, according to an estimate from a new study.
With an average annual gain of $12,418, that would amount to $300,000 for a family of four by 2050, Kevin Dayaratna, the Heritage Foundation Center for Data Analysis director and a co-author of the study, told a House panel on April 2.
