Texas accounts for almost half the nearly 1.3 million industry jobs associated with unconventional oil and gas production in the 16 producing states this year, according to a new study.
Some 576,000 Texans were in jobs linked to unconventional oil and gas in 2012, and that is expected to rise to almost 930,000 by the end of the decade, the IHS Global Insight study released Wednesday says.
Oil shales, oil sands, gas-to-liquids and coal-to-liquids are examples of unconventional oil and gas resources. The resources are often extracted using techniques other than traditional ones like wells.
There are big economic impacts from the activity, both for the state and the country, the study found. In particular, the study estimates that unconventional oil and gas activity in Texas will generate more than $22 billion in federal, state and local revenues this year, or more than $790 billion cumulatively through 2035.
Overall on a national basis, including producing and non-producing states, unconventional oil and gas activity supported more than 1.7 million jobs in 2012. That number will grow to nearly 3 million in 2020, the study says.
The new study, America’s New Energy Future: The Unconventional Oil and Gas Revolution and the US Economy – Volume 2: State Economic Contributions, is the second in a series on the economic contribution of unconventional oil and gas activity.
IHS conducted the analysis with support from several industry groups, including the American Petroleum Institute and the Natural Gas Supply Association.