CHARLES YOUNG | June 28, 2022
West Virginia’s oil and gas production increased by around 6% in 2021, according to an annual report from the Gas and Oil Association of West Virginia.
This production increase, to a total output of more than 2.7 trillion cubic feet, drove a 10% increase in state severance and local property taxes collected.
In total, more than $319 million in tax revenue was generated directly from gas and oil operators during Fiscal Year 2021, according to GO-WV Executive Director Charlie Burd.
“West Virginia’s energy abundance is cornerstone to the strength and security of our state,” he said. “In addition to being a significant economic contributor, having a flexible, readily available energy source has fueled broad business and manufacturing growth that drives prosperity here at home.”
The report, entitled “Gas Facts,” uses data compiled by West Virginia state departments of Environmental Protection, Tax, Treasurer’s Office, and Workforce West Virginia, to provide an annual overview of economic, employment and consumer data pertaining to the gas and oil industry.
“Our goal was to provide messages of hope for the Mountain State when GO-WV launched at the end of 2020,” Burd said. “Through collaboration and a recognition from elected officials — in Charleston and in Washington, D.C. — on the essential nature of American energy, we’re fulfilling that goal while leading West Virginia’s energy, manufacturing and economic revival.”