Posted September 1, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Rhode Island. We started the series with Virginia on June 29 and reviewed Louisiana to begin this week. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.
As we can see with Rhode Island, 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.
The top-line numbers for Rhode Island: more than 15,000 jobs supported statewide, according to PwC; $1.7 billion added to the state economy; over $930 million contributed to the state’s labor income. All are significant drivers for the state’s economy.
Page 2 of the document highlights the economic benefits resulting from new advances in U.S. energy production, like hydraulic fracturing, and how they are boosting revenues and making a huge difference for local families and businesses.
Energy is critically important to Rhode Island, serving as a key engine for the state economy – expanding job opportunities and offering the hope of prosperity to individual Rhode Islanders and their families.
The future benefits of energy for Rhode Island – 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.