America’s New Energy Future: The Unconventional Oil and Gas Revolution and the US Economy
America’s new energy future is supporting jobs from upstream activity across the country in both oil and gas producing and non-producing states.
The economic benefits of unconventional oil and natural gas development exist in the states where the resources are produced as well as the states benefitting from the oil and gas supply chain reaching across the country. The IHS State-level Report on the economic impact of unconventional oil and gas indicates that unconventional activity contributes over 1.7 million jobs today, growing to 3 million jobs by the end of the decade while generating $63 billion and $113 billion in annual government revenues in 2012 and 2020, respectively. For states involved in unconventional oil and gas production, the largest economic contributions come from Texas and Pennsylvania. The top non-producing states - New York and Illinois - with little or no unconventional oil and gas production, are nonetheless seeing large economic contributions by producing the critical goods and services vital to the oil and gas supply chain.