The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

jobs  oil-and-natural-gas  economic-impacts  gdp34 

Mark Green

Mark Green
Posted August 1, 2017

The United States leads the world in natural gas and oil production, thanks to vast energy reserves and advanced technologies, such as hydraulic fracturing and horizontal drilling, and also the work of natural gas, oil and refining sectors that supply Americans’ daily needs and increase our security while boosting the broader economy and advancing climate goals. This economic heft is clear in a new PwC study showing that the natural gas and oil industry supported 10.3 million U.S. jobs in 2015 – up 500,000 since 2011– while adding $1.3 trillion to the national economy or about 7.6 percent of U.S. GDP. Importantly, industry’s economic lift extends to all 50 states, PwC found, energy producers and non-producers.


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crude-oil-exports  economic-growth  gdp34  jobs 

Mark Green

Mark Green
Posted December 8, 2015

The economy-wide arguments in favor of lifting America’s 40-year-old ban on crude oil exports are detailed in a number of recent studies. Some of ICF International’s numbers: up to 300,000 additional jobs in 2020 when crude exports are allowed; up to a $38 billion increase in U.S. GDP in 2020; $5.8 billion in estimated reduced consumer fuel costs per year, on average, 2015-2035; $15 billion to $70 billion of additional investments in U.S. exploration, development and production, 2015-2020; and a $13.5 billion increase in federal, state and local tax receipts attributable to GDP increases from expanding crude oil exports in 2020.

The economic boost is state and local as well. A study of the state-by-state impacts of lifting the crude oil export ban by ICF and EnSys Energy shows the economies in nearly every state would receive a boost in 2020, with nine state’s economies increasing by more than $1 billion. In addition, 18 states would gain more than 5,000 jobs each in 2020, according to the study.

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domestic-energy  economic-growth  energy-policy  gasoline-prices  gdp34  oil-and-natural-gas-industry  prices  state-of-american-energy  taxes  brazil  saudi-arabia 

Jack Gerard

Jack Gerard
Posted May 3, 2011

Editors Note: Today API President and CEO Jack Gerard gave an update on the State of American Energy, outlining a path to success for lower gasoline prices, increased energy security and more American jobs.

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domestic-energy  energy-policy  environmental-protection-agency  epa34  gdp34  manufacturers-alliance  over-regulation  ozone-standards 

Jane Van Ryan

Jane Van Ryan
Posted September 22, 2010

The numbers are mind-boggling. The Environmental Protection Agency's (EPA) proposal to tighten ozone standards could result in the loss of 7.3 million U.S. jobs by 2020, add $1 trillion in new regulatory costs per year between 2020 and 2030, and sharply reduce the nation's productivity. Gross Domestic Product (GDP) would be reduced by $676.8 billion in 2020, accounting for 3.6 percent of U.S. productivity. 

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