Home Economics Ranking The Highest-Grossing Industry In Every US State

Ranking The Highest-Grossing Industry In Every US State

TristaFebruary 13, 2020
Port Arthur in Texas. Pixabay.


While most people see Texas as the “cowboy” state, many other people see Texas as one of the largest oil and gas extraction states in the United States. In 2015, the industry contributed $160.4 billion, which is one of the most substantial contributions on this list for any type of industry. With such a high input, the output GDP reached 10.7%, which shows a strong dependence on the oil and gas extraction distribution. 

Unlike a few other states, the oil and gas extraction industry in Texas employs thousands of people. In fact, they nearly have 100,000 employees. Most people believe that the state will soon go over 100,000 employees because there is incredible demand in the field, even with the decline and slow increase in gas prices. This belief comes because Texas beat the last large slump of gas prices near the end of 2014. In 2015, the industry grew over 13% and added jobs instead of taking them away. 

One of the main reasons the industry continues to climb in Texas, even when it is declining in other states, is because this state is the most abundant petroleum and natural gas-producing state in terms of GDP. Because of the tremendous need, Texas continues to stand on top and contribute over $150 billion annually. 


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