“Investments in oil and natural gas are refueling Ohio’s economy,” said OPC Legislative Director Robert Eshenbaugh. “Ohio’s energy revolution took off because lawmakers matched prudent fiscal policies with smart and effective regulation. The legislature should build on recent success by allowing greater development of Ohio’s vast natural gas reserves.”
Eshenbaugh addressed more than 200 oil and natural gas advocates, workers, employers and representatives from Ohio’s growing oil and natural gas industry in the Capitol Atrium, as part of the industry’s Oil and Gas Lobby Day. The event focused on the expanding development of Ohio’s vast natural gas reserves that is revitalizing the state’s economically distressed eastern region and creating thousands of good paying jobs across the state.
Last year, 38,000 oil and natural gas related jobs were created in Ohio, according to a recent study by the global information and research firm IHS. Ohio job growth is expected to increase exponentially in the near future, with 143,595 new jobs by 2020 and 266,624 by 2035. The industry in Ohio also paid more than $910 million in state and local taxes in 2011, according to the study.
“This year, we will make sure Ohioans understand that increasing natural gas production means more jobs and more revenue for state and local government,” Eshenbaugh said.
OPC is a division of API, which represents all segments of America's technology-driven oil and natural gas industry. Its more than 500 members provide most of the nation's energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.