Energy's Economic Impact
America’s economy is linked in so many ways to the energy industry— this link is particularly strong with oil and natural gas. As we continue our economic recovery, we want to share more with you about the scale of impact the industry delivers. Check out the video above and click “Why is it important” to learn more!
- Supports millions of American jobs – In the beginning of 2020, the oil and gas industry supported approximately 12.3 million American jobs.
- Powers the manufacturing industry – Oil and gas contribute hundreds of billions of dollars to American manufacturing – supporting local jobs, infrastructure development, and economic growth.
- Keeps energy affordable – Due to increased energy production, lower oil and natural gas prices helped save American families an average of $2,500 per year. Those are cost savings that can go toward other necessities like health care and transportation.
- Funds schools, hospitals and roads – Between 2012 and 2025, the oil and gas industry is projected to provide $1.6 trillion in federal and state tax revenue – vital funding that supports schools, hospitals and public infrastructure across the country.