The American Petroleum Institute (API) has released a new study showing the natural gas and oil industry supported 10.3 million U.S. jobs and added $1.3 trillion to the nation's economy in 2015. The study found jobs supported by the industry have increased by 500,000 since 2011 and make up 5.6 percent of the U.S.'s total employment. According to the study, all 50 states, whether producing or non-producing, continued to benefit from the industry.
"This study validates the role of the natural gas and oil industry in growing the U.S. economy and supporting more than 10 million workers from coast to coast," said Jack Gerard, API president and CEO. "Natural gas and oil touches virtually every facet of our life -- from heating our homes and fueling transportation to life-saving medical devices and cosmetics at the drug store. This study is further proof of the positive impact that U.S. resources have on workers and communities across the nation.
"Policies that promote the responsible development of our nation's vast energy resources aren't solely economic, but also further U.S. security and environmental stewardship. Increased use of clean-burning natural gas for power generation and technology innovations have reduced U.S. greenhouse gas emissions to near 30-year lows today."
The study was conducted by PricewaterhouseCoopers (PwC) and commissioned by API. According to the Bureau of Labor Statistics, the average wage in 2016 paid by the natural gas and oil industry, excluding retail station jobs, was $101,181, nearly 90 percent more than the national average.
Texas ranked at the top of the nation with the greatest total employment impact, followed by California, according to the study.
For more information, visit www.api.org or call (202) 682-8000.
