The People of America's Oil and Natural Gas Indusry

Oil and Natural Gas Industry Helps Drive the U.S. Economy

Jane Van Ryan

Jane Van Ryan
Posted October 4, 2010

The numbers are staggering. The impact the oil and natural gas industry has on the U.S. economy is massive. It supports:

  • 9.2 million jobs;
  • 7.5 percent of U.S. Gross Domestic Product; and paid
  • $95.6 billion in income taxes in 2008
More energy means more jobs, higher income and economic growth. Watch this video to see how the oil and natural gas industry is vital to the American economy.

Many state economies also depend on the oil and natural gas industry. For example, in Louisiana alone there are 330,053 oil and natural gas jobs, accounting for more than 13 percent of the state's total jobs. Without the industry, millions of Americans would be out of work, and the United States would lack the domestic energy needed to power the economy.

More oil and natural gas development equates to more jobs. As the September Rally for Jobs events and the Virtual Rally for Jobs have shown, Americans understand how important it is for Washington to develop smart energy policies that promote U.S. oil and natural gas exploration and production to create jobs, improve U.S. energy security, and fuel economic growth.

ABOUT THE AUTHOR

Jane Van Ryan was formerly senior communications manager and new media advisor at the American Petroleum Institute (API), where she wrote blog posts and produced podcasts and videos. Before coming to API, Jane managed communications for a large science and engineering corporation, and for a top-tier research and engineering university. A few years ago, you might have seen her in your living room when she delivered the news on television. Jane officially retired from API in 2011 and now freelances as an independent communications consultant when not gardening at her farm in Virginia.