New Study: 67,600 South Carolina jobs supported by natural gas and oil
Industry added $5.23 billion to state’s economy in 2015
Columbia, S.C., August 1, 2017 – API South Carolina today released a new study showing that the U.S. natural gas and oil industry supported 67,600 jobs in the state and contributed $5.23 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.
"Even with our state’s recent gas tax increase, costs at the pump in South Carolina have remained lower than anywhere else in the country. That's been a real boost to the wallet of every driver in our state and a nice treat for boaters, too," said Executive Director Bonnie Loomis. "Yet, South Carolina’s economy continues to miss the boat on the significant employment and economic impacts possible through the natural gas and oil industry. We enjoy more than 67,000 jobs and more than $5 billion annually through direct, indirect and induced natural gas and oil activity, but those numbers pale in comparison to what is possible with state and federal policies that embrace environmentally appropriate domestic natural gas and oil resource development."
“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 South Carolina 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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