New Study: 239,500 New England jobs supported by natural gas and oil
Industry added $27.08 billion to region’s economy in 2015
Boston, August 1, 2017 – The New England Petroleum Council today released a new study showing that the U.S. natural gas and oil industry supported 239,500 New England jobs and contributed $27.08 billion to the region’s economy. The study found that all 50 states, whether energy producing or not, continued to benefit from the industry.
“This study is further proof of the benefits that the natural gas and oil industry brings to New England," said Executive Director Stephen Dodge. "These energy resources fuel our cars, support 239,500 jobs in the region and provide great value to our region’s economy. Also, natural gas is responsible for 50 percent of our region’s power generation. Unfortunately with demand for this clean-burning fuel on the rise, our region’s energy infrastructure network has not kept pace – which has hurt consumers who have paid 50 percent more for electricity as compared to the rest of the country. Moving forward, we must embrace the benefits of these energy resources and ensure that there is a robust energy infrastructure network in place to deliver these energy resources to New England.”
“This study validates the role of the natural gas and oil industry in growing the U.S. economy and supporting more than 10 million workers from coast-to-coast,” said API President and CEO Jack Gerard. “Natural gas and oil touches virtually every facet of our life – from heating our homes and fueling transportation to life-saving medical devices and cosmetics at the drug store. This study is further proof of the positive impact that U.S. resources have on workers and communities across the nation.”
The study, conducted by PricewaterhouseCoopers (PwC) and commissioned by API, showed that the natural gas and oil industry supported 10.3 million U.S. jobs in 2015. According to the Bureau of labor statistics, the average wage paid by the natural gas and oil industry in 2016, excluding retail station jobs, was $101,181 which is nearly 90 percent more than the national average.
To view the full study, please visit the API website.
The New England Petroleum Council is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation’s energy. The industry supports 10.3 million U.S. jobs and is backed by a growing grassroots movement of more than 40 million Americans.