Oil and Gas Industries: Consistently Contributing to Our Economy

February 7th, 2012

Job recruiters at oil and gas companies often get the cold shoulder from government agencies and politicians. Because they are not in the business of renewable energy really should not matter though. In fact, research indicates that these industries are actually not producing the jobs and careers that many people believed they would for so long. The fact is, there are some pretty good benefits to the oil and gas industry as we know it.

Oil and Gas Companies Create Jobs

One of the biggest benefits to the oil and gas industry is that this industry continues to create jobs. At a time when unemployment remains so high, there’s no doubt this is critically important. The oil and natural gas industry, for example, provides the country with more than nine million jobs. Moreover, there are major projects in the works to add even more jobs. That includes new natural gas production locations in areas like Pennsylvania and adding some 100,000 jobs in Northern Texas in the Barnett shale industry.  Add to this the number of supportive positions added in the manufacturing industry and others, and that job number continues to grow.

Bringing in Tax Revenue

The oil and natural gas industries are also big payers into the coffers of the US government’s tax system. In short, the taxes paid by some of the largest companies in these fields actually exceed the domestic earnings the companies have. In addition, state and local governments also get a chunk of change from these industries as well.

Energy Companies Invest in the Country

The next time you go to hire someone out of your oil company and hear that this business is running the country to the ground, think again. In fact, $266 billion in new capital spending as well as $176 billion in wages and another $35 billion in stock dividends is the big factor. The industry continues to contribute and to reinvest in the country in this way.

It’s an Industry We Need

Hands down, if the oil and natural gas industries were to close down their doors right now, millions of Americans would be without jobs. In fact, it is quite clear to see that jobs in this field continue to be viewed as some of the best to be had. People often understand the importance of the industry. On the flip side, though, solar and wind power jobs are not out there in as much force. More so, many people still wonder about the way those alternative forms of energy will fit into today’s world. Oil and natural gas are stable long term.

As a recruiter for an oil company or natural gas company, you may not feel the impact every day. It is there. Those in this industry contribute to a great deal of the function of everyday lives in the US.

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