A newly released study conducted at Texas Tech University and commissioned by the Texas Pipeline Association (TPA) found that through operations and construction in 2013, the oil and gas pipeline industry in Texas provided $33 billion in economic impact, supported more than 165,000 high-paying jobs, contributed $18.7 billion in gross state product and injected $1.6 billion in state and local revenues.
“The pipeline industry verifiably underpins the exploration and production industry and its impact on state funds is not only substantially measurable but growing in scale,” said Dr. Bradley Ewing, Texas Tech University professor of energy economics.
Conservative economic estimates concluded from the study project that from 2014 to 2024, the pipeline industry will contribute more than $374 billion in total economic output, sustain 171,000 high-paying jobs annually, contribute more than $212 billion in additional gross state product and inject $19.5 billion in state and local government revenues.
“Texas’ pipeline industry is a key component of our energy infrastructure and our nation’s ever-growing energy needs,” said Thure Cannon, president of TPA, in a statement. “And, due to a dramatic increase in the state’s oil and gas production, the demand for additional pipelines is expected to continually increase in the coming years. The communities that are home to pipeline projects are perfectly poised to see economic benefit from the industry in terms of more jobs and increased tax revenue.
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