TIPRO's State of Energy Report for 2013 | Russell T. Rudy Energy LLC
According to a recent article in “Rigzone”, the Texas Independent Producers and Royalty Owners Association’s (TIPRO) annual “State of Energy Report” discloses that oil and gas industry employment increased by 3% to 1,012,800 nationwide in 2013. This has a disproportionate economic impact because oil and gas workers average $103,400 in salary per year, which is significantly higher than most industries.
Texas accounted for 75% of the employment increase within the industry in 2013. Concurrently, it led the industry in oil and gas production of 923 million barrels and 8.3 trillion cubic feet of gas. Both were increases over 2012 levels.
TIPRO credited this success to Texas’ pro-business environment and progressive, yet sensible, approach to regulation. Unfortunately, this is not always the case nationwide. Ed Longanecker, TIPRO president, said “States that adopt overreaching regulations targeting oil and gas development will inevitably experience a progressive, or even dramatic, decline in these high-paying jobs and all associated benefits.”
TIPRO noted regulatory challenges to continued growth in the oil and gas industry at both the national (e.g. EPA) and local (e.g. anti-fracking zoning) levels.
To read the article in its entirety, please go to www.rigzone.com/news/oil_gas/a/135391/TIPRO .
