Oil and Natural Gas Power America’s Economy
The oil and natural gas industry contributes significantly to the U.S. economy as one of the nation’s largest employers and purchasers of goods. Even in a struggling economy, America's oil and natural gas companies continue to provide well-paying jobs, revenue to governments and investment growth for millions of Americans—totaling an economic contribution that challenges Washington's idea of stimulus.
Consider it the energy stimulus: $476 billion delivered to the U.S. economy in 2010— equal to roughly 60 percent of the 2009 federal stimulus. It's a stimulus that didn't need an act of Congress and which, with the right policies, can be repeated over and over—helping to drive broader economic recovery.
The oil and natural gas industry by the numbers:
|9.2 million||Number of people directly and indirectly employed by the U.S. oil and natural gas industry.|
|1.4 million||Number of jobs the industry could create by 2030 with the right government policies in place to expand access to domestic natural resources.|
|$86 million||Daily amount companies pay to the federal government in royalty payments, rents and bonus fees.|
|$100 billion||Amount the U.S. oil and natural gas industry has paid to the federal government in rents, royalties and lease payments for production since 2000.|
|20 percent||Percentage that U.S. energy demand will grow between now and 2035.|
|$266 billion||Amount the industry invested in new U.S. capital projects in 2010.|
|$176 billion||Amount of wages paid to U.S. employees in 2010, plus benefits and payments to oil and natural gas leaseholders.|
|$35 billion||Amount of dividends distributed to American shareholders.|