ADVANCING THE POSSIBILITIES
When it comes to job creation and economic growth, oil and natural gas are advancing the possibilities
The oil and gas industry is one of the largest single basic-sector industries in the state, contributing more than $32.6 billion to North Dakota’s economy annually and supporting more than 55,500 jobs and careers in 2018. This economic impact permeates into every industry in North Dakota, ranging from agriculture to professional and social services, supporting local businesses and tax revenues.
DIRECT ECONOMIC IMPACT
Oil and Natural Gas Impact by Sector
For every $1 spent in the state by the oil and gas industry, another $1 was generated in additional business activity, which contributed to economic growth in virtually every sector in the state, including:
$1.78 billion in manufacturing
$831.1 million in construction
$624.5 million in real estate and rental
$491.9 million in finance and insurance
$484.4 million in utilities
$483.1 million in transportation and warehousing
$389.6 million in wholesale trade
$371.2 million in health and social services
$336.1 million in professional, scientific & technical services
$288.9 million in retail trade
$226.9 million company management
$179.3 million accommodation and food service
$154.8 million in other services
$132.2 billion in information
$130.8 million in administrative and waste services
$56.9 million in government
$30.5 million in arts, entertainment and recreation
$18.4 million in educational services
$6.5 million in ag, forestry, fish and hunting
1 in 6 North Dakota Jobs in Oil and Natural Gas
Oil and natural gas support jobs in every sector
North Dakota’s oil and natural gas industry doesn’t just support jobs for engineers, geologists and drillers. It supports jobs across a huge variety of fields, from accountants who oversee company financials to loggers who track on-site data, ensuring the drilling operation is running as efficiently as possible. The oil and gas industry accounts for 1 in 6 private sector jobs in North Dakota with a $3.8 billion total payroll.
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Enhancing our Energy Security
The oil and natural gas found right here in North Dakota is getting us closer to energy independence, allowing the U.S. to lessen dependence on foreign energy sources. North Dakota produces on average about 1.16 million barrels of oil per day, making it the number two oil producer in the U.S.
North Dakota’s rise as a leader in oil production has helped the country as a whole become the world’s No. 1 producer in both, strengthening the nation’s energy security. In fact, the United States’ reliance on petroleum imports fell from 60% in 2005 to just 3% in 2019—the lowest it’s been since 1954.
Energy security also allow an additional $400 billion to stay in the U.S. economy each year.