Natural Gas Industry Is One Of The Largest Employers In The Country – Facts And Figures
Despite being vilified on a daily basis by environmentalists, oil and gas companies continue to provide jobs for millions of Americans. A report from the API (American Petroleum Institute) says that the natural gas industry provided employment to 10.3 million people and added $1.3 trillion to the country’s economic output in 2015.
And this is when the EPA was at its height in power and was going all in with renewables which are unequal on every level. And with Matt Damon and Hollywood being blasted by this Weinstein catastrophe them lecturing us on oil shale and their illogical environmental causes do not hold any weight at all.
Oil and Gas – Major Employment Generator
The study says that the oil and gas industry generated 10.3 million jobs in 2015 alone and the employment opportunities were distributed across the country. In other words, even the states that do not produce natural gas and oil stand to gain from the industry, which is pretty remarkable.
What is even more amazing is that the average wage paid by the oil and gas industry in 2016 was $101,181, which is a staggering 90% higher than the national average. While this might surprise and annoy tree hugging liberals who are out to demonize the oil and natural gas every day, it should not come as a surprise to anyone who has been following the industry for the past decade or so.
Over the last ten years, the oil and gas industry has been a major employment generator in the country. Even in the years following the major economic Frank/Greenspan recession in 2007, employment in the oil and gas fields was up by a whopping 40%, which no other industry managed to achieve at that point in time.
Despite the better press that the IT industry and the alternative energy industry gets, it is the oil and natural gas that continues to provide livelihood to millions of Americans across the country – year after year much to the chagrin of the left who want Americans dependent on them to survive.
The Trend to Continue
API also estimates that an additional two million jobs will be created by the industry by 2040. The best part about the oil and gas industry is that for every direct job it creates, 2.7 additional, supplementary jobs are created elsewhere. So, apart from the people who work directly in the oil and gas fields and companies, there are a large number of people who benefit from these additional jobs as well.
Jobs in the oil and gas industry account for 5.6% of the country’s employment. The industry, as mentioned above, contributed over a trillion dollars to the nation’s economy in 2015 in the form of taxes, wages, capital investments, direct and indirect support to other industries, and so on. It amounts to 7.6% of our country’s GDP. Impressive and under Trump these numbers will only continue to improve.
The Future is Bright
With the shale boom still going on and our oil and gas production still on the rise, the industry has much to cheer about in the coming years. More jobs will be created, more wages will be paid, and more taxes will be paid (though less taxes since we should have a tax cut soon if a petty and disreputable John McCain and other RHINOS do not get in the way), all of which will strengthen our economy.
The only thing the government needs to do is to cut down on the red tape involved in issuing licenses and permits to ONGC (oil natural gas coal) projects and let the industry do its job. The current administration, unlike the previous one, has been very supportive of the industry so far. So it will continue to thrive and generate millions of jobs in the coming years, which is terrific news for the entire country but no so much for OPEC and Russia!
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