New Study: 76,000 Arkansas jobs supported by natural gas and oil
Industry added $8.13 billion to state’s economy in 2015
North Little Rock, Ark., August 1, 2017 – The Arkansas Petroleum Council today released a new study showing that the U.S. natural gas and oil industry supported 76,000 jobs in the state and contributed $8.13 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.
“This study shows what Arkansans have known for some time, that is, the oil and gas industry has a very positive economic impact on our state," said Executive Director Tom Parker. "From oil and gas industry activity in south Arkansas to the Fayetteville Shale and the Arkansas River Valley, Arkansas has been a part of an energy renaissance that has helped pushed energy prices lower. These lowered costs for energy have helped provide increased disposable income for consumers, greater profitability for many of our businesses and industries, a thriving tourism industry and significant jobs impacts. Moving forward, we should support policies that encourage the development of these resources and recognize the benefits they provide Arkansas’ citizens and the environment.”
“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.
The Arkansas 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.
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