"PwC's preliminary estimates show that the US oil and natural gas industry's total
employment impact to the national economy in 2011, combining the operational and
capital investment impacts, amounted to 9.6 million full-time and part-time jobs,
accounting for 5.5 percent of the total employment in the country . At
the national level, each direct job in the oil and natural gas industry supported
approximately 2.7 jobs elsewhere in the US economy in 2011. Total estimated labor
income, including proprietors' income, was $580 billion, or 6.1 percent of national labor
As shown in the previous section, the US oil and natural gas industry's direct labor
income in 2011 is estimated to be $224.4 billion and capital expenditures are
preliminarily estimated to be $156.3 billion in 2011.
One measure of the industry's
total "spend" is the sum of the industry labor income, capital expenditures and dividend
payments.
Total dividends paid by the industry were obtained from S&P's Compustat North
America® database for US-headquartered companies in the oil and natural gas
industry.7 Excluding distributions from Master Limited Partnerships and other passthrough entities,
8 PwC estimates that the industry paid out a total of $28.7 billion in
dividends in 2011, including dividends paid to individuals, retirement plans, foreign
shareholders, and other businesses.
Using this measure of total "spend" (consisting of the estimated direct labor income,
capital expenditures, and dividend payments), the industry's total "spend" amounted to
$409.4 billion in 2011.
Another source for the industry's annual capital expenditures is a survey published
annually by the Oil & Gas Journal, which puts the industry's 2011 US capital
expenditures at $292.0 billion.
If this estimate of the industry's capital expenditures is
used for the purpose of computing the industry's total "spend" as defined above, the
industry's total "spend" was $545.0 billion in 2011"
PwC
Economic Impacts of the
Oil and Natural Gas
Industry
December 19, 2012
employment impact to the national economy in 2011, combining the operational and
capital investment impacts, amounted to 9.6 million full-time and part-time jobs,
accounting for 5.5 percent of the total employment in the country . At
the national level, each direct job in the oil and natural gas industry supported
approximately 2.7 jobs elsewhere in the US economy in 2011. Total estimated labor
income, including proprietors' income, was $580 billion, or 6.1 percent of national labor
As shown in the previous section, the US oil and natural gas industry's direct labor
income in 2011 is estimated to be $224.4 billion and capital expenditures are
preliminarily estimated to be $156.3 billion in 2011.
One measure of the industry's
total "spend" is the sum of the industry labor income, capital expenditures and dividend
payments.
Total dividends paid by the industry were obtained from S&P's Compustat North
America® database for US-headquartered companies in the oil and natural gas
industry.7 Excluding distributions from Master Limited Partnerships and other passthrough entities,
8 PwC estimates that the industry paid out a total of $28.7 billion in
dividends in 2011, including dividends paid to individuals, retirement plans, foreign
shareholders, and other businesses.
Using this measure of total "spend" (consisting of the estimated direct labor income,
capital expenditures, and dividend payments), the industry's total "spend" amounted to
$409.4 billion in 2011.
Another source for the industry's annual capital expenditures is a survey published
annually by the Oil & Gas Journal, which puts the industry's 2011 US capital
expenditures at $292.0 billion.
If this estimate of the industry's capital expenditures is
used for the purpose of computing the industry's total "spend" as defined above, the
industry's total "spend" was $545.0 billion in 2011"
PwC
Economic Impacts of the
Oil and Natural Gas
Industry
December 19, 2012
