Tioga County, PA: Marcellus Boom Followed by Not-So-Boom

tioga-county-pa

Tioga County, PA

The oil and gas industry has always gone through cycles–times when the industry expands like crazy, and times when it contracts. The cyclical nature of oil & gas is often characterized by fossil fuel detractors as “boom and bust.” We’ve heard the boom and bust argument for years, previously tackling the issue all the way back in 2012 (see Anti-Drilling Objection: Shale Drilling Causes Boom & Bust). We think it’s time to rename this phenomenon to something more reflective of what it really is: boom and not-so-boom. Many industries, indeed we would argue ALL industries, go through such cycles. The example we gave back in 2012 was to recount the history of the Binghamton, NY area, with our loss of IBM (founded in Endicott), and the loss of Endicott-Johnson Shoes (founded in Johnson City)–two huge employers in the region that eventually left. At least with shale the work returns after a time. IBM and EJ are long gone and never coming back. We’ll take the “boom and bust” of the shale industry over faithless manufacturers any day of the week! Here’s a close-up look at the boom, followed by the not-so-boom, in Tioga County, PA shale country…

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