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Marco "Sully" Perez  The oil and gas industry impacts the economy in two ways. The prices of products can affect the overall state of the economy, but it also provides employment related to many industries. Oil and gas is incredibly important not only to individuals and businesses within the United States, but also to the position of the United States among other countries across the globe. In order to protect the United States economy, the oil and gas industry will need to thrive.