Study Finds 10.3 Million U.S. Jobs Supported by Energy

The American Petroleum Institute (API) has released a study that finds 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 that jobs supported by the energy industry grew 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.”

Gerard added that policies promoting the responsible development of the nation’s vast energy resources are not solely economic, “but also further U.S. security and environmental stewardship.” In addition, increased use of clean-burning natural gas for power generation and technology innovations has reduced U.S. greenhouse gas emissions to near 30-year lows.

The study, conducted by PricewaterhouseCoopers, was commissioned by API. It cites Bureau of Labor Statistics data that shows the average wage paid by the natural gas and oil industry, excluding retail station jobs, in 2016 was $101,181, which was nearly 90% more than the national average. The industry has widespread positive impacts in each of the 50 states as well.

(SOURCE: The Weekly Propane Newsletter, Aug. 21, 2017. Subscribe at BPNews.com)