New Study: 258,500 New York jobs supported by natural gas and oil
Industry added $35.8 billion to state’s economy in 2015
Albany, N.Y., August 1, 2017 – API New York today released a new study showing that the U.S. natural gas and oil industry supported 258,500 jobs in the state and contributed $35.8 billion to the state’s economy in 2015. The study found that all 50 states, whether energy producing or not, continued to benefit from the industry.
“The U.S. natural gas and oil industry contributes more than $35 billion to the state’s economy and supports 258,500 jobs, in spite of Governor Cuomo's ban on natural gas drilling and pipelines,” said Executive Director Karen Moreau. “New York is however, more a story of what might have been had the Governor approved fracking in 2012, when DEC's own estimates predicted 50,000 jobs. Or maybe if he had allowed the Constitution pipeline whose impact on the route would have meant 10,000 jobs. Instead, unemployed New Yorkers get to travel to Pennsylvania in search of opportunity in an industry which has paid a median salary of $101,000, according to the Bureau of Labor Statistics. Moving forward, we hope that the governor would stop denying New Yorkers the benefits that would come from development of our state’s vast energy resources.”
“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.
To view a one-pager on the study, please see the attached document or visit the API website.
API New York 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.
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