It's Time You Considered Working in the Natural Gas Sector
From 2007 to 2012, the employment in the private sector in the US increased by more than a million jobs which is really pathetic – that is why college grads ended up at Starbucks and/or returning back to their parents’ homes since they did not have a job that paid anything (see Sam Witwicky’s character in Transformers 3). That's around 1 percent. In the same period, the number of people working in the oil & natural gas industry increased by 162,000, which is a 40 percent increase.
And if the EPA and the left had their way this would not be the case. They do not believe in oil shale and do not believe it should be a state’s right to pursue energy self-sufficiency. They do not care about the middle class, they only care about their ideology. In fact, electrical prices increased under Obama since he attacked coal and gave ISIS a pass but that is another topic.
Around half of the workers who were employed in the oil & natural gas production were offering support to the industry. When put together, the three categories equaled 0.5 percent of the 1 percent increase in US private sector employment.
Support basically involves all sorts of supporting activities for the production or oil & natural gas including well surveying, excavation, well construction, and casing work. Support is considered one of the largest categories in the industry and by the end of 2012 employed 286,000 people. It would have been more if America never had to deal with Obamacare which was and is an utter disaster. Obamacare was a job destroyer. This is one reason why Europe has higher unemployment numbers than America. Greece, in fact, has been a disaster but this is another subject.
Both the drilling and support industries were affected heavily during the recession which never ended under Obama because of high taxes and Obamacare, but they have managed to recover very quickly and suffered only some minor effects from the moratorium that was ridiculously placed on offshore drilling because of the 2010 Deepwater Horizon (fantastic movie!) spill.
Between 2007 and 2012, the production of crude oil per month rose by 39 percent and the production of natural gas per month rose by 25 percent. It is amazing what can happen when the government gets out of the way.
Employment as far as these industries are concerned continues to contribute to the employment picture and with Trump in office being pro growth unlike Obama who was pro socialist, America is on its way to being great again.
Beyond the employment within the sector, the activity from the oil & gas industry also supports the employment and output in various other domestic sectors such as drilling equipment, pipe supplies, and various other drilling materials.
Apart from this, just as is the case with other types of economic activity, there are some indirect employment effects which stem right from the purchases that are made by the employees in particular, and the industry in general.
Since employee expenditures are tied very closely with their incomes, having jobs that pay more like the ones in this industry tend to have much larger indirect effects as far as the employment and output is concerned when compared with low paying jobs. For example, the state of North Dakota saw a significant gain in per capita GDP when the Bakken shale play was being developed and is still going full throttle. There is more restaurants and homes up there now than there ever was before, for instance. This has been happening while New York and California are losing jobs.
It is no secret to determine which formula works!
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