The Effect of the Oil and Gas Industry on Oklahoma Oklahoma's oil and gas industry is moving us forward unstoppably in when it comes to energy solutions, but other regions of the country are still looking for theirs. While providing jobs to the thousands of people who live in Oklahoma, the oil and natural gas industry not only contributes to America's oil production, but it also produces millions of dollars for the economy, schools and roads. of our state. By making new advancements in our industry every day, artificial technologies, scientific breakthroughs, new methods of exploration and adequate drilling have taken place. Without these improvements, we would not be able to extract oil and natural gas from difficult deposits more efficiently than we can today. As capacity increases, environmental impact will continue to decrease. In 1897, a tower of surging oil split the Bartlesville skyline. Oklahoma's preliminary drilling went awry, brought on by federal controls on natural gas wellhead prices applied to interstate commerce in the 1950s. In 1982, oil prices reached a record high of 37 .60 dollars per barrel. Additionally, the number of progressive drilling rigs in Oklahoma also reached a record 882. The total amount produced by the soul and natural gas industry in Oklahoma reached approximately $40 billion in 2007. Plus, through the gross production tax, oil and natural gas producers and royalty holders have given Oklahoma more than $2 billion for teacher retirement, public schools, state management wildlife, bridges, roads and state colleges. Oil remains a vital industry in the Sooner State. Natural gas continued to grow in the early 1990s, despite the total collapse caused by the fall in the global value of crude oil. hinder economic movement. As a result, oil and gas prices succumbed. Oklahoma continued to rank among the top in oil and gas manufacturing in 2009. A comparison of the industry anatomy from 2007 and 2009 shows an interesting unemployment phenomenon. First of all, the overall level of employment has fallen among both employees and self-employed workers; the relative decline was much more pronounced among self-employed workers (-11 percent) than among employees (-3 percent). Likewise, the relative decrease in jobs is severely considered to be more profound on the drilling side (-33%) than on the management side (-3.5%). Overall, jobs depend on more than 5,000 jobs and labor and income payments fell from almost $8.9 billion to just over $7.6 billion..