The People of America's Oil and Natural Gas Indusry

Energy Continues to Be a Bright Spot for the American Economy

Mary Leshper

Mary Schaper
Posted February 27, 2014

Four Charts Show How Impressive the Shale Energy Boom Is

U.S. Chamber Blog: How important has the shale energy boom been to jobs and the economy? Very important. Mark Mills of the Manhattan Institute writes in a new report that the oil and natural gas sector has “provided a greater single boost to the U.S. economy than any other sector.” He adds:

The $300–$400 billion overall annual economic gain from the oil & gas boom has been greater than the average annual GDP growth of $200–$300 billion in recent years—in other words, the economy would have continued in recession if it were not for the unplanned expansion of the oil & gas sector.

On jobs, Mills found impressive growth nationwide as well as in states experiencing the shale boom up close and personal.

These four charts from Mills’ report show how the shale energy boom has been the job creation story of our economic recovery.

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Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.