20 Jul New Analysis: Texas-Made Natural Gas and Oil Drives U.S. Economic Recovery, Strengthens All Industries
HOUSTON, TX, July 20, 2021—The Texas Oil and Gas Association and the American Petroleum Institute (API) today released a new analysis of the natural gas and oil industry’s vast economic impact on Texas’s economy and highlighted its importance to the state’s post-pandemic recovery. The study, conducted by PricewaterhouseCoopers (PwC) and commissioned by API, is based on the latest government data available and shows that Texas’s natural gas and oil industry supported over 2.5 million total jobs across the state’s economy in 2019. Texas ranked as the state with the highest share of total economic contributions by the natural gas and oil industry, generating $411.6 billion toward the state’s gross domestic product—including $251.2 billion added to total labor income.
Source: American Petroleum Institute
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