Diesel Technology Forum report: Diesel industry contributes more than $480 billion annually to U.S economy
“Diesel Technology Industries Are an Export Powerhouse”
“Several aspects about diesel are striking,” said Dr. Richard McCann of Aspen Environmental Group, who was the report’s prime author. “First, the economic value produced per job is twice the national average, and as a result wages are 60 percent higher. The industry is a prime source of good-paying jobs.
“Second, diesel technology is ubiquitous. It probably touches even more transactions and activities than electricity. That technology influence multiplies through the economy – $1 earned on diesel technology enables another $4.50 of added value elsewhere in the economy.
“And third, diesel technology industries are an export powerhouse that generates five times more exports from industry output than the national average. Most diesel technologies require sophisticated processes using a well-trained labor force. Diesel products are often built to customer specs. These jobs cannot be easily ‘off-shored.’”
Diesel Export-To-Value Ratio Is Five Times Higher Than National Average
As the economy grows and the diesel passenger car market grows, so will the need for diesel fuel. The U.S. is self-sufficient in refining its fuel and even exports diesel fuel to other countries. Refineries accounted for the largest proportion of diesel-related exports, at $9.5 billion.
Altogether, diesel product and fuel exports represented $46.2 billion or 4.35 percent of U.S. exports in 2009, with an export-to-value ratio that was five times higher than the national average.
Diesel to Play an Increased Role in U.S. Economic Growth
The reports states: “As policymakers look to promote cleaner, more fuel efficient technologies, its use will grow along with other competitive alternatives. Diesel technology’s future value is further enhanced by its suitability for hybrid applications and its readiness to utilize a diverse range of first and second generation renewable and biodiesel fuels.
“National fuel economy standards for cars and light-duty trucks beginning in 2017 are expected to be met in part by an increasing number of clean diesel passenger vehicle choices. Similarly, first-ever fuel efficiency standards for medium- and heavy-duty commercial trucks and buses beginning in 2014 will drive further innovation and efficiency gains in diesel technology as a key compliance strategy.”
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