ACC: Shale-Related Petrochem Projects Mean $72B Invest, 530K Jobs
Last week the American Chemistry Council (ACC) released the third report in a series that examines the economic benefits of U.S. chemical industry investments linked to abundant and affordable supplies of shale gas. The latest report, titled “Shale Gas, Competitiveness, and New U.S. Chemical Industry Investment—An Analysis of Announced Projects” (full copy embedded below), analyzes 97 chemical industry investment projects that have been announced through the end of March 2013.
According to ACC, in just five short years the U.S. has gone from one of the world’s highest-cost producers of petrochemicals to one of the world’s lowest-cost producers–thanks to the miracle of hydraulic fracturing and horizontal drilling. The economic implications are as astonishing as they are profound. According to the report, the U.S. is on track for $71.7 billion in investment and more than half a million permanent new jobs due to just 97 chemical industry projects related to shale gas.