New Study: 72,500 Maryland jobs supported by natural gas and oil
Industry added $7.89 billion to state’s economy in 2015
Annapolis, Md., August 1, 2017 – The Maryland Petroleum Council today released a new study showing that the U.S. natural gas and oil industry supported 72,500 percent of jobs in the state and contributed $7.89 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.
“While most of Maryland has enjoyed lower energy prices over the past several years, the state lags far behind in realizing the opportunity for job creation and economic opportunity from the oil and natural gas industry. Recent successes in the oil and natural gas industry could still do much more. Without the right policies in place that embrace the benefits of our nation's energy resources, Maryland may continue missing out on significant opportunities for creating jobs and boosting economic revenue especially in counties in Western Maryland where these benefits are much-needed.”
“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 Maryland 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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