Posted on 08/09/2013 1:45:11 PM PDT by thackney
Jobs in the oil and gas sector have grown 40 percent in the last five years, helping to counteract the tepid one percent increase in total U.S. employment.
The oil and natural gas industry created more than 162,000 jobs from 2007 to 2012 in drilling, extraction and support services, according to a report by the Labor Department’s Bureau of Labor Statistics released Friday.
These new jobs helped build up the ranks of the more than 971,000 people working in the industry in the U.S., including about 379,800 in Texas, according to an April report by The Texas Independent Producers & Royalty Owners Association.
Oil and gas jobs make up just one-half of one percent of private sector employment, but have created a host of new opportunities, especially in Texas and North Dakota, as the shale boom continues. Texas now produces more than 74 million barrels of crude a month, about a third of all US production.
While the recession and the moratorium had a temporary impact on oil and gas jobs, the dramatic increase of oil and gas production created the need for additional employees. Monthly crude oil production increased 39 percent and natural gas production increased 25 percent during the five year time period, according to the Energy Information Administration.
Had to cause spinoff jobs such as builders, railroaders, etc.
The clowns ruling us haven’t a clue how an economy grows.
I enjoy your threads. Always some good info.
The problem is that the extreme inflation iin gasoline and diesel has killed off at least that many jobs.
Reminds me of a very bad joke I heard years ago. It seems that when they decided to build the Chunnel between England and France they realized it was so big they would need more than one engineering firm to build the whole thing.
After all the bidding was done they decided on a German firm to drill the tunnel, an Italian firm to build the train, and a Japanese firm to provide the supplies for the entire job.
After the Germans completed drilling the tunnel, the Italians were ready to start building the rail, but when they got to the Chunnel entrance they didn't see any materials to build with. They were wondering what the Japanese had been doing all this time.
They walked up to the entrance to the Chunnel and peeked in. Just then the head of the Japanese firm jumped out and yelled:
SUPPLIES!
In Heaven:
The cooks are French,
The policemen are English,
The mechanics are German,
The lovers are Italian,
The bankers are Swiss.
In Hell:
The cooks are English,
The policemen are German,
The mechanics are French,
The lovers are Swiss,
The bankers are Italian.
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