According to the Western Energy Alliance on June 3, the nationwide economic contributions—specifically job growth and revenue—from domestic exploration and production (E&P) companies in Western states have grown. In the past two years, these companies’ economic impact increased by 65%, according to the Alliance.
The Western Energy Alliance recently updated its Western Oil and Natural Gas Employs America online resource, which provided the information. The resource was developed by the economics forum John Dunham & Associates.
This year, E&P companies across 13 western states generated $84.3 billion, according to the report. This is above 2012’s $51 billion, according to the report. The E&Ps in Western states contribute almost $17 billion in taxes annually, the report said, and also provide $20.7 billion in wages.
The states included in the report were Arizona, Colorado, Idaho, Montana, Nebraska, North Dakota, Nevada, New Mexico, Oregon, South Dakota, Utah, Washington and Wyoming.
“We created the online portal to document the contribution of western producers to economies not just in the West, but across the nation,” said Tim Wigley, president of Western Energy Alliance.
He added, “This recent update shows how oil and natural gas production has increased dramatically across the West, delivering huge economic benefits to communities across the country. Producers work hard to develop American energy in environmentally responsible ways; no other industry has impacted the U.S. economy as profoundly in recent years as ours.”
The Western Energy Alliance was formed in 1974 as the Independent Petroleum Association of Mountain States. It represents more than 480 companies.
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