Natural gas is clean, affordable, abundant, and domestic. These four qualities help natural gas build the economy and make it the ideal fuel to power the American economy today and into our long-term future.
By focusing energy policy and economic growth on the lowest-emission fossil fuel, we can create a win-win scenario where our economy grows while we clean up our air in the process.
Natural Gas Creates Jobs
The creation of new employment opportunities is a core driver of any healthy economy. According to the American Gas Association (AGA), the natural gas industry supports more than four million jobs across the country.
Job creation includes direct employment, indirect employment, and induced employment.
- Direct employment covers all the jobs directly created by natural gas related enterprises in the exploration, production, distribution, and management of natural gas.
- Indirect employment refers to the myriad of industries that supply goods and services to the natural gas industry, including the natural gas appliances used by consumers and businesses.
- Induced employment is created when both direct and indirect natural gas industry employees introduce their income back into the economy, increasing the demand for general goods and services.
When combined with the oil industry, natural gas and oil support 12+ million jobs nationwide, making up a significant percentage of the overall American workforce.
An Added Boost to the Business Community
Job figures don’t tell the full story of the impact natural gas has on the strength of the American economy. Every year, American firms save billions of dollars on energy by choosing natural gas. According to the American Gas Association, total savings over the past decade in the industrial and commercial sectors exceeded half a trillion dollars. This capital can be redirected into growth initiatives that expand the economy and job market through business expansion, innovation, and increased hiring.
U.S. Department of Energy data shows that approximately one-quarter of all energy consumption in the United States can be contributed to the manufacturing sector. By lowering the cost of manufacturing domestically, more manufacturing businesses and jobs can return to America from overseas.
Consumer Savings Translates Directly to Additional Growth
Just as energy savings in the commercial sector injects money into the economy, residential consumer savings free up additional discretionary spending for American families. AGA figures estimate annual household savings of $1,068 per year for households that use natural gas for heating, cooking, and clothes drying compared to homes consuming electricity for the same appliances. Over the past decade, total savings have topped $147 billion.
Tax Revenue That Matters
Not all natural gas fueled economic growth is found in the private sector, the U.S. Department of Energy estimates that between 2012 and 2025, the combined oil and gas industries will pay $1.6 trillion in projected federal and state taxes. Natural gas builds the economy because its revenue supports the construction and maintenance of schools, hospitals, and many other public infrastructure projects across the country.
Supporting domestic energy production bolsters the American economy and keeps our nation strong and independent. Natural gas builds the economy.