The Facts - Growth
The oil and natural gas industry supports 7.5 percent of the United States economy.
Shale is a significant contributor to the economic health of West Virginia, with the potential to add more. In 2014, natural gas state severance tax receipts totaled $162.4 million, and oil severance tax receipts totaled $25.9 million.
The amount of property tax the industry paid out in 2014 totaled more than $71 million.
Shale energy provides a particularly strong “employment multiplier.” For every job created in the shale gas sector, more than three jobs are added in other areas, representing one of the largest employment multipliers in the United States.
Nationally, increases in shale gas could mean 400,000 jobs in the chemical and supplier industries, with even more created downstream. The American Chemistry Council estimates that about 200,000 more jobs could be created in the plastics industry.
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