Trade Association Data Shows Texas Oil, Gas Employs Almost 500,000 People
by Andreas Exarheas
click here to read the original article at Rigzone.com
*this article was not written by Roseland Oil & Gas
In 2023, the Texas oil and natural gas industry employed 480,176 people, according to the Texas Oil & Gas Association’s (TXOGA) 2023 annual energy and economic impact report, which was released recently.
The sector with the most employees was support activities for oil and gas operations, with 108,682 workers, followed by gasoline stations with convenience stores, with 82,355 workers, and crude petroleum extraction, with 48,505 workers, the report showed. Oil and gas pipeline and related structures construction was the sector with the fourth most employees, with 45,736 workers, and oil and gas field machinery equipment rounded out the top five, with 30,625 workers, the report outlined.
Every direct job in the Texas oil and gas sector creates an additional two Texas jobs, according to the report, which noted that Texas oil and gas employers paid an average of $124,158 last year. Other private sectors averaged $70,738, the report stated.
On a per employee basis, the Texas oil and gas sector paid $55,000 in state and local taxes and state royalties last year, the report revealed, highlighting that this is almost nine times higher than the other private sectors.
The Texas oil and natural gas industry paid $26.3 billion in state and local taxes and state royalties last year, according to the report, which showed that this is the highest figure since TXOGA started compiling this data in 2007. The report also noted that Texas hit production records in six of 12 months in 2023, that Texas refineries processed a record 5.6 million barrels of crude oil per day in July last year, and that Texas also broke records for crude oil supply and crude oil and condensate exports.
“American energy leadership starts in Texas and our nation, our economy, and our world are better because of the unparalleled stewardship of Texas oil and natural gas companies,” TXOGA President Todd Staples said in a release accompanying the report.
“2023 was such a blockbuster year that the Texas oil and natural gas industry effectively rewrote its record book, clocking unmatched economic and energy achievements across the board,” he added.
“Record-breaking performance of the Texas oil and natural gas industry amounts to much more than phenomenal statistical achievements. The natural resources, fuels, and essential products produced here cement America’s energy security, fortify Texas’ economic strength, and advance global stability at a time when our energy leadership has never been more crucial,” he continued.
“Success is the result of non-stop industry innovation, investment and operational efficiencies that shattered a string of oil and natural gas production, supply, refining, and export records last year – all while achieving world-leading environmental progress,” Staples went on to note.
In a follow up TXOGA release showcasing the reactions of several state leaders to the report, Texas Governor Greg Abbott said, “TXOGA’s report is a testament to our state’s unwavering support to expand oil and gas production and protect the hundreds of thousands of hardworking Texans in this critical industry”.
“Texas will always be a pro-energy state,” he added.
Texas Comptroller Glenn Hegar said in that release, “Texas oil and gas provides power for the world, protects our national security and our allies abroad and ensures Texas remains the economic engine of our nation”.
“As our state continues to grow, the Texas oil and gas industry has grown with it. Innovations and increased efficiency have pushed production to record levels, contributing to state revenues, funding key services like public education and helping make Texas the eighth largest economy in the world,” he added.
Christi Craddick, the Chair of the Railroad Commission of Texas (RRC), said in the release, “yet again, the Texas oil and gas industry has broken records and boosted the state’s economy with taxes, royalties, and quality jobs”.
“Thanks to TXOGA’s reporting, we can see the real-world, positive impact this industry has on our state’s bottom line. Texas is an energy leader because of this industry, and I appreciate the commitment displayed by oil and gas operators to keeping Texas’ economy thriving,” Craddick added.
RRC Commissioner Jim Wright stated in the release, “as the 2023 Energy and Economic Impact Report shows, the Texas oil and gas industry has, for the second year in a row, set new records for production, exports, and tax revenue to the state”.
“With more than $72 million dollars every day going to fund our schools, roads, and essential services, the impact of the oil and gas industry to the Texas economy and the benefit it provides to the citizens of our state is unmatched,” he added.
TXOGA describes itself as a statewide trade association representing every facet of the Texas oil and gas industry including small independents and major producers. Collectively, the membership of TXOGA produces approximately 90 percent of Texas’ crude oil and natural gas, operates nearly 90 percent of the state’s refining capacity, and is responsible for the vast majority of the state’s pipelines, the organization states on its website.
by Andreas Exarheas
click here to read the original article at Rigzone.com
*this article was not written by Roseland Oil & Gas