Natural gas and oil industry contributes nearly $10.5 billion to the state’s economy

According to the American Petroleum Institute (API), the natural gas and oil industry supports nearly 117,500 jobs, provides nearly $5.6 billion in wages and contributes nearly $10.5 billion to Missouri’s economy.

Manufacturing Industry Facts

1. America’s energy abundance is bringing manufacturing back to the United States through lower energy and materials costs.

2. U.S. industrial electricity costs are 30 to 50% lower than foreign competitors. American manufacturing costs are now 10 to 20% lower than Europe, and could be 2 to 3% lower than China by 2018.

3. According to the American Chemistry Council, the chemical industry is implementing 310 projects, which will generate $185 billion in capital investment and 464,000 jobs over the next decade – all due to shale gas.

 If you are interested in reading the API’s full fact sheet, click here.