A new study conducted by PricewaterhouseCoopers for the American Petroleum Institute, shows that the natural gas and oil industry supported 10.3 million US jobs and added $1.3 trillion to the nation's economy in 2015.
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 US economy and supporting more than 10 million workers from coast-to-coast," said API President and CEO Jack Gerard in a statement.
ref: http://www.api.org/~/media/Files/Policy/Jobs/Oil-and-Gas-2015-Economic-Impacts-Final-Cover-07-17-2017.pdf
According to the Bureau of Labor Statistics, the average wage paid by the natural gas and oil industry in 2016, excluding retail station jobs, was $101,181 -- nearly 90 percent more than the national average.
The industry's capital investment impact of 2.3 million jobs supported, $134 billion of labor income, and $220 billion of the industry's impact on GDP is not quantified at the state level due to the non-availability of capital expenditure data at the state level.
