February 14, 2013
A Congressional Research Service (CRS) memo released this week shows that wages for workers in oil and gas extraction have increased over 23% since 2007. During a time period in which the U.S. has faced dire unemployment rates, rampant job loss, and near economic collapse, workers in the oil and gas industry have continued to see above average increases in earnings.
The oil and natural gas industry supports over 9.2 million jobs, boasts an average annual salary of over $96,000.00
, and plays a vital role in supporting almost every sector of the U.S. economy. A recent study
showed that opening currently restricted federal lands and waters to energy production would create nearly 2 million jobs annually over the next 30 years. If President Obama wants to see true economic development and support small business, he should work with House Republicans to approve an all-of-the-above energy strategy that will unlock our energy potential and create millions of high-paying American jobs.