Oil and Gas Today with Chris Faulkner – Podcast #529

There have been news stories over the last couple weeks about the stark contrast between the oil and gas state’s economies vs. the rest of the U.S.

Here are some quick numbers.  Overall, oil and gas comprises about 2-percent of the U.S. economy.  But in states where production is booming, on average, oil and gas makes up about 10-percent of those economies.  And in Wyoming, it’s over a third of their state GDP.  Why is this important?

Because the rest of the country is mostly still reeling from the 2008 recession.  Things still aren’t that great economically across the fruited plane.  But overlay where there ARE jobs, where construction IS booming, where banks ARE lending, and where 6-figure jobs are plentiful, and you’re looking at where oil and gas is being developed.

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