A recent report confirms what you already knew: People in the oil and gas industry make more money than you, and Texas is producing lots more oil.
The Texas Independent Producers & Royalty Owners Association’s “State of Energy Report” says the industry employs more than 971,000 people in the U.S., including about 379,800 in Texas.
And 34,600 of those Texas jobs were added in the first half of 2012 alone.
Other interesting information:
- The national average wage for oil and gas industry workers was $107,200 last year.
- The Texas average wage for oil and natural gas workers was $128,100 last year.
- 39 percent of oil and gas jobs nationally were located in Texas in 2012.
- Oil production in Texas last year rose by 185 million barrels, a 25 percent increase, to 717 million barrels.
- Texas gas production for 2012 exceeded 8 trillion cubic feet, a 1 percent increase over the year before.
- Texas has 11,700 oil and gas businesses. About 28 percent of the nation’s oil and gas businesses are based here.
- Workers in petroleum and national gas extraction earned the highest annualized average wage, at $162,200 in 2012. The 43,500 people in pipeline transportation earned on average $152,100. The 71,000 workers in the petroleum refineries industry earned $142,800.
You can get the full report on TIPRO’s website, tipro.org