Home Economy Gulf of Mexico oil industry contributes to U.S. economy, supports jobs

Gulf of Mexico oil industry contributes to U.S. economy, supports jobs

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Gulf of Mexico oil and gas development supported 345,000 jobs in the U.S. and contributed $28.7 billion to the nation’s economy in 2019, an new industry study estimates.

The study, released Thursday by the National Ocean Industries Association, says those numbers are projected to grow. But officials say whether that happens depends in large part on efforts by the Biden administration and other political leaders to reduce the pollution, rising seas and other ill effects greenhouse gasses from fossil fuels are wreaking on the planet.

“The Gulf of Mexico has transformed into a national strategic infrastructure asset, and we must make every effort to sustain it through a predictable regulatory system that includes regularly scheduled lease sales and continued permitting,” association President Erik Milito said.

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