Saturday, September 28, 2013

Does the Oil Industry Create Many Jobs?

The following are excerpts from an article originally published in UCUSA, entitled, Drivers Spend Almost as Much on Gas as They Paid for Their Cars:

Filling up with gasoline does not do much to feed money into communities. In fact, just 81 cents of an average $50 fill-up goes to the local gas station owner. “In the end, gas stations make more money off the bottled water, beef jerky, and other things you buy inside than off the fuel you buy outside,” says policy analyst Joshua Goldman.

According to data from the Department of Labor’s Bureau of Labor Statistics, extracting oil and gas produces less than one job per $1 million of output, and is among the least job-intensive industries in the United States. When consumers reduce spending on gasoline, they spend more money in areas of the economy such as retail, which employs about 12 people per $1 million of output.


When we have fuel competition in America, consumers will cut their spending on fuel at least in half, greatly boosting employment in the U.S. And you can help make this happen. Start here.

No comments:

Post a Comment