U.S. Energy is Fueling Growth, Revival
Posted March 28, 2014
Census Data Shows Energy Boom Fueled Historic Growth after Recession
Natural Gas Intelligence: The nation's energy boom, stoked by technological advances both onshore and offshore, drove significant economic growth for the oil and gas industry, which also fueled a corresponding population boom in resource-rich areas such as North Dakota and Texas between 2007 and 2012, according to the U.S. Census Bureau.
The bureau's Economic Census Advance Report, released Wednesday, provides the first comprehensive look at the U.S. economy since the Great Recession, supplying data on a series of key metrics across more than 1,000 industries. The report comes out every five years.
The latest report showed remarkable growth in the "mining, quarrying, and oil and gas extraction sector," which was among the fastest-growing employers between 2007 and 2012, tracking the renaissance in the country's onshore oil and gas fields.
Employment across the sector increased by 23% to 903,841 jobs during the five year period, while revenues jumped 34% to $555 billion in the same time.
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About The Author
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.
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