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Industry makes an impact

07/18/2011
Leena KoottungalSurvey Editor/News WriterThe US oil and natural gas industry supports 2 million jobs in Texas and 24% of the Lone Star State's economy, according to a study commissioned by the American Petroleum Institute as conducted by PricewaterhouseCoopers LLP.API's report updates data from a previous report and shows that, between 2007 and 2009, the economic activity supported by the industry nationwide actually increased in size as a percentage of US gross domestic product (GDP), from 7.5-7.7%. The industry supports 9.2 million jobs in the US.In describing these economic impacts, this report considers three separate channels—the direct impact, the indirect impact, and the indu...
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