Pub. 3 2021-2022 Issue 4

The Value of the Oil and Gas Industry to Utah

This story appears in the
Update Magazine Pub 4 2021-2022 Issue 4

Prior to the pandemic, Utah’s oil and gas industry supported over 103,000 local jobs, provided over $6.1 billion in wages, and contributed more than $12.4 billion to the state’s economy, according to a study conducted by PricewaterhouseCoopers (PwC), based on 2019 data.

Our natural resource and energy industries have been key drivers of the post-pandemic recovery in Utah. Crude production from the Uintah Basin is at all-time highs. We are already railing crude to the newly established U.S. Gulf Coast export market. The Salt Lake refineries are thriving with high utilization rates.

To better spotlight the value of our industry to the state of Utah, UPA is excited to release our first annual oil and gas financial tracker. The oil and gas industry is a significant employer and economic contributor not just to the Uintah Basin but across the state, providing nearly $2 billion in direct taxes and fees to the state over the last five years.

The following three pages contain our first annual oil and gas financial tracker.