Analysis: Wyoming’s Natural Gas and Oil Resources Provide Nearly $11.9B in Eocnomic, Trade & Job Benefits
The Petroleum Association of Wyoming (PAW) and American Petroleum Institute (API) today released new analysis on the growing economic contributions of America’s natural gas and oil industry in all 50 states, including investment in Wyoming.
The study, commissioned by API and prepared by PricewaterhouseCoopers (PwC), showed that the industry supported more than 58,000 jobs and contributed nearly $11.9 billion toward the state’s economy in 2021.
“It is well known across the state that the natural gas and oil industry is Wyoming’s primary economic driver,” said PAW President Pete Obermueller. “This latest report reveals just how true that is – boosting every facet of the state’s economy from agriculture to tourism to manufacturing. Natural gas and oil are literally powering Wyoming’s potential.”
- Supported 58,780 total jobs (20,340 direct and 38,440 indirect) or 14.4 percent of Wyoming’s total employment.
- Generated an additional 1.9 jobs elsewhere in Wyoming’s economy for each direct job in the state’s natural gas and oil industry.
- Provided $5.7 billion in labor income ($3.6 billion direct and $2.1 billion indirect) to Wyoming, 23.3 percent of the state’s total.
- Contributed $11.9 billion to Wyoming’s total gross domestic product ($8.3 billion direct and $3.5 billion indirect), 28.6 percent of the state’s total.
- Supported 10.8 million total jobs or 5.4 percent of total U.S. employment.
- Generated an additional 3.7 jobs elsewhere in the U.S. economy for each direct job in the natural gas and oil industry.
- Produced $909 billion in labor income, or 6.4 percent of the U.S. national labor income.
- Supported nearly $1.8 trillion in U.S. gross domestic product, accounting for 7.6 percent of the national total.