The oil and natural gas industry in Louisiana supported more than 346,000 jobs in multiple sectors and contributed more than $54 billion to the state’s economy in 2021, according to a PricewaterhouseCoopers study commissioned by the American Petroleum Institute.
According to a statement from the Louisiana Mid-Continent Oil and Gas Association, the report highlights the importance of policies that promote energy development in the state, including permitting reform and the creation of a final five-year plan for offshore oil and gas leasing.
The PwC report is based on the latest government data available at the state, national and congressional district level.
LMOGA’s analysis of PwC’s findings shows that, in 2021, the industry directly and indirectly:
- Supported 346,710 total jobs (91,720 direct and 254,990 indirect) or 13.1% of Louisiana’s total employment.
- Generated an additional 2.8 jobs elsewhere in Louisiana’s economy for each direct job in the state’s natural gas and oil industry.
- Provided $25.8 billion in labor income ($10.7 billion direct and $15.0 billion indirect) to Louisiana, which was 16.7% of the state’s total.
- Contributed $54.3 billion to Louisiana’s total gross domestic product ($29.2 billion direct and $25.1 billion indirect), or 21% of the state’s total. Read more.