Last week, we launched a summer long series of posts that will highlight the economic and jobs impact of energy in each of the 50 states. We started the week with Virginia and continued on with Ohio, Colorado and New Mexico. Today: Missouri.
Click on the thumbnail to bring up a two-page snapshot of energy’s benefits to the state.
The energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.
The top-line numbers: 118,000 jobs supported statewide, according to PwC; $9 billion added to the state economy; $5.5 billion contributed to the state’s labor income. All are significant drivers for the state’s economy.
Page 2 of the document highlights that, in Missouri, EPA proposed ozone regulations could cost the state’s economy nearly $29 billion between 2017 and 2040 and place more than 40,000 jobs at risk, according to a study by NERA Economic Consulting.
Energy is critically important to Missouri, serving as a key engine for the state economy – expanding job opportunities and offering the hope of prosperity to individual Missourians and their families.
The future benefits of energy for Missouri – and the rest of the country – largely depend on national decisions on the country’s energy path. A new Wood Mackenzie study contrasts the benefits that a set of pro-development policies could have on energy supplies, jobs, the economy and American households with the likely negative effects on energy of regulatory constrained policies. The key comparisons are found on the first page of the linked document.
Energy is essential for all facets of our daily lives, from powering national, state and local economies to powering the family vehicle. Safe, responsible development of domestic oil and natural gas resources is linked to individual prosperity, energy security and basic liberties.
By Reid Porter
Originally posted July 6, 2015
Energy Tomorrow is brought to you by the American Petroleum Institute (API), which is the only national trade association that represents all aspects of America’s oil and natural gas industry. Our more than 500 corporate members, from the largest major oil company to the smallest of independents, come from all segments of the industry. They are producers, refiners, suppliers, pipeline operators and marine transporters, as well as service and supply companies that support all segments of the industry.
Oil pump photo courtesy of Shutterstock.
