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Oil Impact Overview - Oklahoma Oil Impact

For the first time in 60 years, fuel is America's #1 export which is reflective of an energy revolution that's well underway.
Oil Impact Overview - Oklahoma Oil Impact

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Show Dates

Show 1204: Oil Impact Overview - Oklahoma Oil Impact

Air date: January 22, 2012

 

Transcript

ROB MCCLENDON:  WELL FOR THE FIRST TIME IN 60 YEARS, FUEL IS AMERIC’A #1 EXPORT.  MEASURED IN DOLLARS, THE US IS ON PACE TO SHIP MORE GASOLINE, DIESEL, AND JET FUEL THAN ANY OTHER EXPORT THIS YEAR.  IT’S A DRAMATIC SHIFT AND ONE’S THAT REFLECTIVE OF AN ENERGY REVOLUTION WELL UNDERWAY; HE FIRST TIME IN SIXTY YEARS,  , pipeline video if possible THEY TRAIN AND DEAL WITH THESE YOUNG PEOPLE, THEY HAVE TO HAVE AN ONEW TECHNOLOGY THAT HAS LITERALLY CHANGED THE RULES OF THE ENERGY GAME.

THERE’S A NEW LOOK TO THE OKLAHOMA CITY SKYLINE.  TOWERING ABOVE DOWNTOWN IS THE DEVON TOWER; A 750 MILLION DOLLAR INVESTMENT INTO OKC, THAT IS ONLY DWARFED BY THE BILLION DOLLARS THE COMPANY IS SPENDING AROUND THE STATE LOOKING FOR NEW ENERGY RESOURCES.

LARRY NICHOLS:  IT TRULY IS AMAZING HOW NEW TECHNOLOGY IN OUR INDUSTRY HAS OPENED UP HORIZONS THAT WE NEVER DREAMED WERE POSSIBLE BEFORE.

ROB:  SPEAKING TO MEMBERS OF OKLAHOMA’S STATE CHAMBER, DEVON ENERGY PRESIDENT LARRY NICHOLS SAYS NEW DRILLING TECHNOLOGIES HAVE OPENED UP OIL FILEDS LONG THOUGHT UN-REACHABLE.

NICHOLS:  WE ACTUALLY HAVE THE POSSIBILITY OF MAKING THE UNITED STATES AND CANADA ENERGY INDEPENDENT, IF WE REALLY PUT OUR MINDS TO IT; AND THAT’S JUST AN AMAZING STATEMENT.

ROB:  3-D SEISMIC IMAGING HAS MADE FINDING OIL AND GAS EASIER, WHILE HORIZONTAL DRILLING TECHNOLOGY IS BRINGING MORE OIL AND GAS TO THE SURFACE THAN EVER BEFORE.

NICHOLS:  IT’S A FANTASTIC OPPORTUNITY FOR OKLAHOMA BECAUSE IT CREATES JOBS, THOSE JOBS CREATE INCOME AND TAXES AND THE WEALTH, WHICH HELP OUR SCHOOLS AND THE HIGHWAYS AND ALL THE INFRASTRUCTURE, THINGS WE ALL RELY ON.

MARY FALLIN:  THE MESSAGE THAT WE’VE BEEN SHARING IS THAT WE’RE DOING EVERTHING WE CAN TO CREATE CLIMATE FOR JOB GROWTH, JOB RETENTION, JOB ATTRACTION.

ROB:  A FACT NOT LOST ON STATE LEADERS; OKLAHOMA GOVERNOR, MARY FALLIN.

FALLIN:  OIL AND GAS AND THE ENERGY SECTOR IS VERY IMPORTANT TO OKLAHOMA’S ECONOMY; IT’S HELPED LEAD OUR STATE THROUGH SOME PRETTY TOUGH TIMES AND ECONOMIC RECOVERY.  IF YOU LOOK AT THE AMOUNT OF JOBS THAT ARE BEING CREATED HERE, WHETHER IT’S OIL AND GAS, WHETHER IT’S MANUFACTURING, OR INDUSTRIES RELATED TO ENERGY, OR EVEN THE TRICKLE-DOWN EFFECT OF THE ENERGY COMPANY’S SUCCESSES, IT AFFECTS BUSINESSES ALL ACROSS THE STATE.  IT’S REALLY HELPING, WELL I GUESS IT’S REALLY HELPING OUT IN THE RURAL AREAS OF OKLAHOMA WHERE WE DESPERATELY NEED MORE JOBS OR WE NEED TO INCREASE THE QUALITY OF LIFE.

ROB:  AND IT’S IN WESTERN OKLAHOMA WHERE SOME OF THE MOST DRAMATIC BENEFITS ARE BEING FELT.  CREATING WORK NOT JUST IN THE INDUSTRY, BUT JOBS ALL THE WAY DOWN THE ECONOMIC CHAIN.  KEN MILLER IS OKLAHOMA’S STATE TREASURER.

KEN MILLER:  WE HAVE ABOUT ONE-THIRD OF OUR ECONOMY CAN BE TIED BACK TO THE ENERGY INDUSTRY, WHETHER IT’S NATURAL GAS OR WHETHER IT’S OIL, IT’S A, IT’S BIG.

ROB:  AND COULD GET EVEN BIGGER.  OKLAHOMA OIL AND GAS EXPLORATION FOR DEVON ALONE IS APPROACHING DOUBLE-DIGIT GROWTH EACH YEAR.  CREATING JOBS ACROSS THE STATE AND MAKING OKLAHOMA CITY’S ECONOMY THE ENVY OF THE NATION.  SUCCESS THAT DEVON’S LARRY NICHOLS SAYS CAN BE TRACED BACK TO SOME WISE INFRASTRUCTURE INVESTMENTS MORE THAN A DECADE AGO.

NICHOLS:  I GIVE MAYOR NORRICK A TREMENDOUS AMOUNT OF CREDIT FOR TURNING OKLAHOMA CITY AROUND, BECAUSE IF OKLAHOMA CITY HAD STAYED THE WAY IT WAS BACK IN THE LATE 80’S AND EARLY 90’S, WE WOULD HAVE HAD TO HAVE LEFT OKLAHOMA BECAUSE WE COULD NOT ATTRACT PEOPLE HERE.  BUT WITH MAPS ONE AND ALL THE OTHER PROGRAMS THAT THE CITY HAS DONE, THE RESEARCH IN DOWNTOWN OKLAHOMA CITY IS TRULY INCREDIBLE AND THAT ALLOWS US TO ATTRACT PEOPLE FROM TEXAS AND ALL AROUND THE COUNTRY TO COME HERE AND WORK.

ROB:  AND THE CHALLENGE NOW IS INSURING THE STATE’S WORKFORCE HAS THE RIGHT SKILLS TO KEEP THE INDUSTRY GROWING.  WHEN WE COME BACK WE’LL LOOK AT TWO PROGRAMS DESIGNED TO DO JUST THAT.