10.3 million U.S. jobs supported by oil industry in 2015
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, according to a new study by the API. The study found that jobs supported by the industry increased by 500,000 since 2011 and showed that 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 API President and CEO Jack Gerard. "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," Gerard added.
The study, conducted by PricewaterhouseCoopers (PwC) and commissioned by API, showed that the natural gas and oil industry supported 10.3 million U.S. jobs in 2015. According to the Bureau of Labor Statistics, the average wage paid by the natural gas and oil industry, excluding retail station jobs, in 2016 was $101,181 which is nearly 90 percent more than the national average.
The natural gas and oil industry has widespread impacts in each of the 50 states.