API survey reveals extent of economic growth behind American oil and natural gas
Zachary Cikanek | CikanekZ@api.org | 202.682.8114
WASHINGTON, September 9, 2014 ─ API unveiled a new vendor survey today that demonstrates the diverse array of suppliers, service providers, and other small and midsized businesses supporting the U.S. energy renaissance.
“Oil and natural gas companies are only one part of a much larger economic success story that is creating job growth up and down the supply chain,” said API Upstream Group Director Erik Milito. “From the folks who make work gloves to environmental consultants, these businesses represent just a small cross-section of the opportunities created by America’s energy revolution.”
API’s 2014 vendor survey lists nearly 30,000 operators, contractors, service companies, suppliers, and other vendors that support oil and natural gas operations in every state and the District of Columbia. It includes individual state profiles, which detail job gains and salary information for industry-related work, as well as information on survey participants organized by congressional district.
“Thanks to innovations in horizontal drilling and hydraulic fracturing, America’s potential as an energy superpower is growing, and businesses of all types are growing with it,” said Milito. “Even outside of major oil and natural gas producing areas, the industry is creating jobs that pay about double the average salary for all industries. Overall, as of 2011, the oil and natural gas industry directly or indirectly supported 9.8 million U.S. jobs, and many more are expected over the next decade.”
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 20 million Americans.