Oil and Gas Leading the Economic Recovery

June 24, 2021

The Houston Chronicle reports on some good news this morning, as the oil exploration and production sector in Texas added 1,600 jobs in May, despite the best efforts of the Biden Administration to scuttle the industry. According to the article:

The sector has added 12,500 jobs since job losses bottomed out in September and as coronavirus vaccines have lifted the U.S. economy and demand for crude and petroleum products. Oil drilling and extraction companies employed 170,000 workers in Texas in May, according to data from the Texas Workforce Commission analyzed by the Texas Oil and Gas Association.   

It is important to note that when it comes to jobs in the oil and gas industry, it is about quality as well as quantity. The industry supports high-paying jobs for American workers, particularly when stacked up against jobs in the renewable industry.

In March, this blog highlighted the massive pay inequities between the two industries:

Forbes reports:

According to Texas Independent Producers & Royalty Owners Association, the U.S. oil and gas industry posted a net decline of 160,323 jobs due to lower demand in 2020. These jobs pay $133,601 on average, with 20% filled by women. 

Biden has continued to wreak havoc on the industry, displacing even more fossil fuel workers across the U.S. while promising clean energy jobs as “better” choices according to John Kerry, Biden’s Climate Czar.

The Bureau of Labor Statistics reports that solar power technicians make $43,000 and wind turbine technicians earn $53,000 annually. In other words, these new “high-paying jobs” pay $60,000 to $70,000 less than their oil and gas counterparts. This is a significant wage gap to close by any standard.

As the energy industry recovers from the pandemic, it will be important to track the quality of jobs being created. It will also be critical to track the quality of jobs being lost thanks to the Biden Administration’s anti-fossil fuel agenda.