Petroleum industry’s total economic value for California—larger than 15 U.S. state economies A new economic study released today by The Los Angeles County Economic Development Corporation (LAEDC) details the oil and gas industry’s sizable economic and fiscal impacts on California’s economy and also identifies the user industries of refined products and quantifying their economic activity today. The Western States Petroleum Association (WSPA) commissioned the LAEDC to study the economic contribution of the oil and gas industry in California for the year 2015, as well as identifying user industries of refined products most vulnerable to cost increases, supply restrictions and competitive pressures from outside the state. Oil & Gas is major employer, leading economic driver The report shows the oil and gas industry as a major employer and leading economic driver in California, responsible for 368,100 jobs in 2015, or 1.6 percent of California’s employment, with almost $66 billion in […]