A study commissioned by the Western States Petroleum Association (WSPA) and conducted by the LAEDC’s Institute for Applied Economics (IAE) found that the industry supports over 536,000 jobs, generates $53 billion in labor income, and contributes $166 billion to California’s Gross State Product. Additionally, it provides $47.9 billion in state and local taxes and $16.3 billion in federal taxes, underscoring its significant economic footprint.
Keywords:
- California Oil and Gas Industry
- Economic Impact Analysis
- Fiscal Contribution
- Refining Capacity
- Workforce Characteristics