Oil & Gas Growth Along the Entire Supply Chain

Oil & Gas Growth Along the Entire Supply ChainThe oil and gas boom continues into 2014 and its impact is wide to a myriad of industries and suppliers. The oil and gas boom is producing millions of jobs with the hydrocarbon sector creating jobs faster than Silicon Valley. Employment is up 40% in the oil and gas fields since the recession began in late 2007. Every one of the 10 states like Texas, Oklahoma and North Dakota where hydrocarbon production is on the rise, overall employment growth has outperformed the nation.

Direct employment in the oil and gas industry rose 40% from 2007 through 2013. Compare that to the paltry overall U.S. economy and job growth in the same period. The resulting jobs are not just temporary but an important part of building middle-class jobs ranging from information services to training, health care, housing, education and related manufacturing.

Since mid-2009 U.S. oil production has risen 60% along with a 50% collapse in oil imports. The impact has been billions of dollars in new economic value. New plant and equipment investment has increased among industries that use petroleum products such as agriculture, plastics, and pharmaceuticals along with suppliers and services to these industries.

Over 75% of America’s oil and gas production comes from some 20,000 companies. These small and midsize companies and thousands more in the supply chain are reaping the benefits of the oil boom. The U.S. shipping industry is experiencing a boom of its own as demand increases for the ability to move oil and liquefied natural gas between U.S. ports or overseas. U.S. shipbuilders are having their own substantial growth experiencing their largest boom in more than 20 years according to the U.S. Department of Transportation.

Even the importance of ports in the US are shifting. Mid-year in 2013, the Port of Houston surpassed the port of New York City becoming the nation’s top export market.

The top exports were:

  • Petroleum and coal products –  $36.6 billion
  • Chemicals – $31.2 billion
  • Machinery, except electrical – $15.2 billion
  • Computer and electronic products – $6.7 billion
  • Oil and gas extraction – $5 billion

Fast funding for oil & gas suppliers!

Apply Securely, call 888-400-5931 ext 1 or email us.

Money When Your Business Needs It Most!

  • Get Cash Today

    Best Factoring CompanyGet the Cash You Need Today

    Just fill out this quick & easy form!

  • This field is for validation purposes and should be left unchanged.
Get Cash Today
  • Quick Contact Form
  • This field is for validation purposes and should be left unchanged.

Back to Top

Best Factoring Company

Get Started Immediately