The Oil and Natural Gas Industry's Effect on Oklahoma Oklahoma's oil and natural gas industry is giving us unstoppable progress for energy solutions, but other parts of the nation are still searching for theirs. In addition to providing jobs for the thousands of people who live in Oklahoma, the oil and natural gas industry not only contributes to America's oil production, but also produces millions of dollars for our economy, schools and roads. state. Making new advancements in our industry every day, artificial technology, scientific discoveries, new suitable explorations and drilling methods have taken place. Without these improvements, we would not be able to extract oil and natural gas from difficult reservoirs as efficiently as we can now. As capacity increases, the environmental impact will continue to decrease. In 1897, an oil-filled tower split the sky over Bartlesville. Oklahoma's preliminary drilling went poorly, due to federal natural gas price controls applied to interstate commerce in the 1950s. In 1982, oil prices reached an all-time high of $37.60 a barrel. Additionally, the number of progressive drilling rigs in Oklahoma also reached a record 882. The total amount produced by the core and natural gas industry in Oklahoma reached approximately $40 billion in 2007. Additionally, through the gross production tax, oil and natural gas producers and royalty owners have donated more than $2 billion to Oklahoma used for teacher retirements, public schools, wildlife management, bridges, roads and state universities. Oil remains an indispensable state industry. Natural gas continued to grow in the early 1990s, despite the incredible crisis caused by the global collapse of crude oil p...... middle of paper ......understandable surge effects across the world monetary district they put the obstacle to the economic movement. Therefore, oil and gas prices fell. As of 2009, Oklahoma continued to rank high in both oil and gas production. A similarity of the industry anatomy of 2007 and 2009 shows some interesting unemployment phenomena. First, the overall level of jobs has declined among both salaried and self-employed workers; the relative decline was much deeper among self-employed workers (-11%) than among salaried workers (-3%). Likewise, the relative decline in jobs is considered more severe in the drilling sector (-33%) than in management (-3.5%). Overall, jobs became dependent on more than 5,000 jobs, and work and income payments decreased from nearly $8.9 billion to just over $7.6 billion..