Rising oil and gas production to have small impact on GDP

Even if US oil and gas production does continue to expand at the breakneck pace seen over the past few years, the overall impact on GDP growth will be muted. The mining sector as a whole accounted for a modest 1.9% of value-added GDP in 2011 and 0.5% of total employment. Moreover, the projected expansion in production is expected to happen over a period of a decade or more, meaning that the impact on annual GDP growth will be very modest, amounting to no more than a few tenths of one percent.