Industry's fiscal impact

In a recent study, the oil and natural gas industry was measured to see what type of influence it had on the impact of the US economy in 2011 regarding employment, labor income, and value added. Value added refers to "the additional value created at a particular stage of production" as well as "a measure of the overall importance of an industry" as represented by its contribution to the nation's gross domestic product. This preliminary report, which was prepared by PricewaterhouseCoopers LLP for the American Petroleum Institute, used the industry's 2011 employment and capital expenditures figures and applied economic multipliers for 2010 from the latest IMPLAN modeling...

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