Posted July 8, 2015
Today’s post continues our series highlighting the economic and jobs impact of energy in each of the 50 states. We started the series with Virginia. Yesterday we reviewed the benefits in Indiana. Today: North Carolina. The energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.
Click on the thumbnail to bring up a two-page snapshot of energy’s benefits to the state.
The top-line numbers: 146,100 jobs supported statewide, according to PwC; $12.5 billion added to the state economy; $6.8 billion contributed to the state’s labor income. All are significant drivers for the state’s economy.
Page 2 of the document highlights the projected employment gains from North Carolina with pro energy policies supporting oil and natural gas development in the Atlantic. North Carolina benefits from having the largest coastline in the region and could see the creation of 55,000 jobs and nearly $4 billion raised for the state budget by 2035 with revenue sharing in place.
Energy is critically important to North Carolina, serving as a key engine for the state economy – expanding job opportunities and offering the hope of prosperity to individual North Carolinians and their families.
The future benefits of energy for North Carolina – and the rest of the country – largely depend on national decisions on the country’s energy path. A new Wood Mackenzie study contrasts the benefits that a set of pro-development policies could have on energy supplies, jobs, the economy and American households with the likely negative effects on energy of regulatory constrained policies. The key comparisons are found on the first page of the linked document.
Energy is essential for all facets of our daily lives, from powering national, state and local economies to powering the family vehicle. Safe, responsible development of domestic oil and natural gas resources is linked to individual prosperity, energy security and basic liberties.
ABOUT THE AUTHOR
Reid Porter is a spokesman for the American Petroleum Institute. Before joining API, he worked as Account Supervisor at Edelman. Porter double majored in English Literature and the Spanish language at Middlebury College in Vermont. He enjoys traveling, cheering for the Green Bay Packers, soccer, rereading Hemingway novels and spending time with family.