This is what makes the US economy interesting, in that despite being a leading producer of oil, unlike other large producers of oil, it does not come close to being reliant on the industry. In comparison, almost all other large producers of oil are petrostates, in that much of their economy is dependent on oil and gas. The US oil and gas industry could cut its production in half and it would change the GDP by a percentage point at most. US oil production is more important for natural security, so that the country is not reliant on other countries for production, than it is for the GDP.