Gulf of Mexico Analysis
United States Gulf of Mexico Oil and Natural Gas Industry Economic Impact Analysis
The offshore oil and natural gas industry is instrumental to the United States both from an energy supply perspective and due to its contribution to U.S. GDP and job creation. In 2010, over 30 percent of the oil and 11 percent of the natural gas produced in the United States was produced in the Gulf of Mexico (GoM). This production is crucial to U.S. energy security. In addition, capital investment and purchases of intermediate inputs of the oil and natural gas industry stimulate its entire value chain and ripple through many sectors of the economy, creating jobs, contributing to GDP and generating tax revenue at all levels of government.
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