Study: Oil and gas industry supported 2.5 million Texas jobs; 11.3 million nationally

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Center Square

(The Center Square) – Texas’ oil and natural gas industry supported more than 2.5 million total jobs statewide in 2019, a new analysis found, contributing the most to the state’s GDP and total income of any industry.

Texas’ oil and gas industry contributed $411.6 billion to the state’s gross domestic product, including $251.2 billion to the state’s total labor income in 2019, the report found.

The findings show how the oil and gas industry plays an “indispensable role … in providing jobs and investment that benefits every community and all Texans,” Texas Oil and Gas Association President Todd Staples said in a statement. The industry provides the socio-economic “underlying foundation of Texas public school, university and public infrastructure funding,” he added, contributing the most to school districts and higher learning institutions in the state.

 

The industry will also serve as the foundation for long-term growth and prosperity iin Texas, American Petroleum Institute President and CEO Mike Sommers said, as long as policies remain in place to enable it to grow.