New Analysis: Pennsylvania’s Abundant Natural Gas and Oil Resources Provide Over $75 Billion in Economic, Trade & Job Benefits Ref: 202.682.8114 | press@api.org
HARRISBURG, PA, May 16, 2023 — The American Petroleum Institute-Pennsylvania (API Pennsylvania) today released new analysis on the growing economic contributions of America’s natural gas and oil industry in all 50 states, including investment in Pennsylvania ranging from taxes and workforce wages paid to indirect and induced jobs in retail, manufacturing, agriculture and other sectors throughout the energy supply chain. The study, commissioned by API and prepared by PricewaterhouseCoopers (PwC), showed that the industry supported more than 423,000 jobs and contributed over $75 billion toward the state’s economy in 2021.
According to the findings, in 2021, the Pennsylvania Oil and Gas industry directly and indirectly:
·Supported 423,700 total jobs (93,060 direct and 330,640 indirect) or 5.6 percent of Pennsylvania’s total employment.
·Generated an additional 3.6 jobs elsewhere in Pennsylvania’s economy for each direct job in the state’s natural gas and oil industry.
·Provided $40.3 billion in labor income ($14.3 billion direct and $26.0 billion indirect) to Pennsylvania, 7.5 percent of the state’s total.
·Contributed $75.0 billion to Pennsylvania’s total gross domestic product ($35.9 billion direct and $39.1 billion indirect), 8.9 percent of the state’s total.