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Update to the Economic Impacts of the Texas Oil and Gas Pipeline Industry

Update to the Economic Impacts of the Texas Oil and Gas Pipeline Industry

Full Title: Update to the Economic Impacts of the Texas Oil and Gas Pipeline Industry
Author(s): Bradley T. Ewing
Publisher(s): Texas Tech University
Publication Date: November 5, 2020
Full Text: Download Resource
Description (excerpt):

This study is conducted by the Center for Energy Commerce at Texas Tech University and provides
estimates of the 2019 economic impact of the Texas oil and gas pipeline industry. The study also
provides insights into the long-lasting benefits of the pipeline industry over the next 40 years. The study is an update to the 2014 economic impact analysis prepared by Texas Tech University that provided estimates of the industry for the years 2013 and 2024.

The focus of this study is on the value creation and the economic sustainability that lies in the economic contributions of Texas pipelines. For purposes of this study, economic output refers to the value of all industrial production in a region (i.e., gross revenues), following the convention used by the U.S. Bureau of Labor Statistics (BLS) and Bureau of Economic Analysis (BEA); jobs are defined as the average annual number of jobs in a sector, industry, or region, while labor income consists of all forms of employment income, including employee compensation (wages and benefits) and proprietor income; and value added indicates the addition to gross state product.

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