The Impact of Higher Natural Gas Prices on the Texas Economy

Description:

This report, by the University of North Texas Center for Economic Development and Research, discusses the economic effect of rising gas prices on the Texas economy. It surmises that although rising natural gas prices are a boon to gas drilling, production and distribution industries and their employees, the resulting higher costs to Texas industries and households more than offset any gains. Each $1 per MCF increase in the price of natural gas - if sustained - has the net effect of decreasing state economic activity by at least $3.4 billion per year, lowering total employment by more than 34,000, and reducing salaries and wages by $911 million.

Creator(s):
Creation Date: July 2000
Partner(s):
UNT Center for Economic Development and Research
Collection(s):
UNT Scholarly Works
Usage:
Total Uses: 128
Past 30 days: 3
Yesterday: 0
Creator (Author):
Weinstein, Bernard L.

University of North Texas

Creator (Author):
Clower, Terry L.

University of North Texas

Date(s):
  • Creation: July 2000
Description:

This report, by the University of North Texas Center for Economic Development and Research, discusses the economic effect of rising gas prices on the Texas economy. It surmises that although rising natural gas prices are a boon to gas drilling, production and distribution industries and their employees, the resulting higher costs to Texas industries and households more than offset any gains. Each $1 per MCF increase in the price of natural gas - if sustained - has the net effect of decreasing state economic activity by at least $3.4 billion per year, lowering total employment by more than 34,000, and reducing salaries and wages by $911 million.

Physical Description:

22 p.

Language(s):
Subject(s):
Keyword(s): natural gas | Texas economy
Partner:
UNT Center for Economic Development and Research
Collection:
UNT Scholarly Works
Identifier:
  • ARK: ark:/67531/metadc30382
Resource Type: Report
Format: Text
Rights:
Access: Public