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- In Ohio, oil and natural gas are powerhouses of economic development. Together they support over 352,000 Ohioans’ jobs, equivalent to 5% of state employment, and have an economic impact of $55 billion. Nationally, this sector supports almost 11 million jobs and contributes nearly $2 trillion to the U.S. economy.
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Apr 26, 2017 · The industry in Ohio and all of the Appalachian Basin has responded to lower gas prices by decreasing the cost of production. That benefits consumers and producers alike. Attached below is a chart prepared by Gordon Kristopher showing the changes in natural gas pricing since December of 2015 and offering explanations for why.
May 16, 2023 · “Natural gas and oil are essential to Ohio’s economy, and this analysis shows how the growing contributions of this vibrant industry are helping to bolster employment, opportunity and economic growth across our state,” API Ohio Executive Director Chris Zeigler said.
May 5, 2024 · Ohio should encourage policies that allow more Ohio-sourced natural gas to be used locally, which will in turn provide local jobs and investment, and a boon to the economy. Simply put, a vibrant business economy is possible only if people have access to essential energy, and increased energy access lowers prices and reduces the cost of doing ...
- Steve Stivers
• Oil and natural gas extraction in Ohio fell in 2020 from its 2019 peak; nevertheless, the related pipeline transportation and manufacture of petroleum and coal products remain concentrated here. • Major service industries concentrated here include banking and related services, insurance,trucking, warehousing and
Jun 2, 2021 · Our collaborators believe this result to be indicative of the fact that the natural gas industry, as it currently operates in Ohio, is not an engine of sustained economic growth.
Sep 18, 2023 · A 2021 PricewaterhouseCoopers report revealed that the natural gas and oil industries brought 375,000 jobs to Ohio in 2019, accounting for 5.3% of the state’s employment and bringing in $58.8 billion. That’s 8.5% of Ohio’s GDP. The average wage in shale-related industries is $57,497.89, well above the average wage in Ohio of $39,680.
May 5, 2020 · The amount of natural gas Ohio produces annually ballooned from 78 billion cubic feet in 2010 to nearly 1.8 trillion cubic feet in 2017—an increase of more than 2,200 percent—according to federal figures. And what kind of impact has this had? Between 2007 and 2016, employment in Ohio’s shale industries grew 62 percent.
