Oil & gas Industry will require 3 Million jobs by 2020

Business

The oil and gas sector is among the six core industries in India and plays a major role in influencing decision making for all the other important sections of the economy. The economic benefits from India’s oil and natural gas industry are vast and undeniable – in 2011 the industry supported more than 2.8 million jobs, 600,000 more jobs than it supported just two years earlier. Oil and natural gas industry operations supported 5.4 million full- and part-time jobs nationally, while its capital investment supported another 2.4 million jobs. Dynamic forge & Fittings (I) P. Limited Has manufactured Hastelloy pipe fittings, material for oil and natural gas pipe line, manufacturing activity continues in 12000 square meter open area, company generates many jobs opportunities every year.

Unconventional Oil and Gas Production Supports More Than 1 Million U.S. Jobs Today; Will Support 5 Million by the End of the Decade. The revolution in unconventional oil and gas production is fundamentally changing the United States energy outlook, generating significant job creation, economic growth and government revenues.

The entire upstream unconventional oil and gas sector will support more than 1.7 million jobs in 2012 at average wage levels dramatically higher than the general economy. The number of jobs is expected to increase to 2.5 million over the next three years. The number of jobs supported will continue to rise to nearly 3.5 million in 2035, according to the study.

The new study, America’s New Energy Future: The Unconventional Oil and Gas Revolution and the Economy builds on previous IHS research on the economic impacts of unconventional gas to provide the most complete assessment to date of the economic contributions—in terms of jobs, economic value and government revenue—for both unconventional oil and unconventional gas in the United States.

“The growth of unconventional oil and gas production is creating a new energy reality for the United States “The growth of oil and gas industry has not only contributed to U.S. energy security but is a significant source of new jobs and economic activity at a time when the economy is a top priority.

“The United States currently has the highest rate of growth in crude oil production capacity in the world and is virtually self-sufficient in natural gas, except for some gas from Canada.