State-Level Policy Updates
Colorado is currently ranked fifth in domestic oil production and seventh in natural gas production and has just more than 48,500 active wells. Energy Workforce Member Companies directly employ more than 3,700 individuals in Colorado with high-paying manufacturing and technical jobs.
More than 50 Energy Workforce Member Companies have a presence in Louisiana, supplying equipment and services to refineries across the state. The energy sector in Louisiana is directly responsible for nearly 45,000 jobs in the state, not including the job multiplier for this industry which is projected at 4.4, meaning that for every job in this sector, an additional 3.4 jobs are created in other sectors.
The oil and gas industry in the Land of Enchantment provides nearly one-third of the revenue for New Mexico’s General Fund. The average salary is $71,505, more than $20,000 higher than the average New Mexico salary across all industries. The oil and gas industry contributes more than $16.6 billion to New Mexico’s economy or 16% of the state economy. Taxes and royalties from the oil and gas industry account for 39% of New Mexico’s annual budget, including over $1.4 billion for public schools.
For nearly 120 years, oil and gas has been produced in the Sooner State. In Oklahoma, one in five jobs is directly or indirectly supported by the oil and gas industry. The industry paid $1.03 billion in direct taxes in fiscal year 2019. Energy Workforce Member Companies directly employ more than 3,700 individuals in Oklahoma with high-paying manufacturing and technical jobs.
Energy Workforce Member Companies have a tremendous presence in the state of Texas, employing more than 54,000 individuals in nearly every corner of the state. The decision by Congress to repeal the oil export ban in 2015 has spurred an energy renaissance in the Permian Basin. In fact, the U.S. surpassed Russia in 2018 as the world’s top oil producer. The International Energy Agency predicts American oil — most of it from the Permian — will account for 80% of the growth in global supply over the next seven years.