A new study shows the oil and natural gas industry supported 9.8 million American jobs in 2011, an increase of more than 600,000 jobs in two years, says the president of the American Petroleum Institute (API).
“Game-changing innovations in hydraulic fracturing and horizontal drilling are creating hundreds of thousands of new jobs every year,” said API President and CEO Jack Gerard.
The industry now supports 8 percent of the U.S. economy, up from 7.7 percent, according to the study by PwC US. The study was commissioned by API. It examined the oil and natural gas industry’s economic contributions in 2011, an update to a previous report from 2009.
“We need Congress and the administration to unlock additional opportunities by expanding access to domestic energy resources, speeding up permitting, and ending the broken ethanol mandate,” Gerard said in a statement issued Aug. 1. “By doing so, we will create even more American jobs, grow our economy, protect consumers and take full advantage of our nation’s vast energy resources.”
The industry supports jobs in all 50 states, according to the study. Texas remains America’s oil and natural gas leader, with the industry supporting nearly two million jobs in the state and making up 23 percent of the state’s economy. California is second with nearly 800,000 jobs and nearly 7 percent of the state’s economy, followed by Louisiana with 400,000 jobs and 35 percent of the state’s economy.
API is a national trade association that represents the oil and natural gas industry.