Study: U.S. Drilling Provides Economic Boost

Posted February 21, 2014 at 5:44am

Oil & Gas Journal reports that “the US oil and gas drilling boom is creating jobs far faster than the general economy and generating enough wealth to prevent a lapse back into recession, according to a report published this month by the conservative Manhattan Institute.”  

Key findings include:

  • “Overall US employment has yet to return to its prerecession level, but the number of oil and gas jobs has grown 40% since then.”
  • “In the 10 states at the epicenter of oil and gas growth, overall statewide employment gains have greatly outpaced the national average.”
  • “A broad array of small and midsize oil and gas companies are propelling record economic and jobs gains—not just in the oil fields but across the economy.”