09/23/2019

Oil & Gas in California: The Industry and Its Economic Impact

The report describes the economic impact of oil and gas industry operations in their entirety in the state of California. It estimates that the industry’s direct output of more than $111 billion generates more than $148  billion in direct economic activity, contributing 2.7 percent of the state’s GDP and supporting 368,100 total jobs in 2015, or 1.6 percent of California’s employment. Additionally, the oil and gas industry generates $26.4 billion in state and local tax revenues and $28.5 billion in sales and excise taxes. Vulnerable user industries of refined petroleum products, like transportation/warehousing, manufacturing and agriculture represent 1.7 million jobs in California with an associated $111 billion in labor income and account for 8.4 percent of the state’s GDP.

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