Economic Contributions from Western Oil & Natural Gas Grow Significantly
Western exploration and production sector supports 268,110 jobs and $84.3 billion in annual economic benefit
(DENVER) - The western oil and natural gas exploration and production (E&P) industry supports 268,110 jobs across the U.S. and grew its overall economic impact by 65 percent in the past two years. Western Energy Alliance launched an update to its Western Oil and Natural Gas Employs America online toolkit, which highlights the industry’s impact in every state, county and congressional district across the country.
The Employs America economic model developed by John Dunham & Associates, a respected economics firm, shows the E&P industry in 13 western states generating $84.3 billion in economic impact across the nation in 2014. These figures are up from $51 billion in economic impact in 2012. The western E&P sector provides $20.7 billion in wages to working families across the country and nearly $17 billion in taxes annually, making it a critical source of revenue to local, state and federal governments.
“We created the online portal to document the contribution of western producers to economies not just in the West, but across the nation,” said Tim Wigley, president of Western Energy Alliance. “This recent update shows how oil and natural gas production has increased dramatically across the West, delivering huge economic benefits to communities across the country. Producers work hard to develop American energy in environmentally responsible ways; no other industry has impacted the U.S. economy as profoundly in recent years as ours.”
To see where western oil and natural gas companies are creating jobs and economic growth, visit westernenergyalliance.org/EmploysAmerica.
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