Study Finds Shale Gas Will Create 1M New Manufacturing Jobs
A new study released Wednesday by PricewaterhouseCoopers on shale gas and its impact on U.S. manufacturing finds that by 2025 manufacturers will employ an additional one million workers and will have saved some $11.6 billion in energy costs—all due to an abundance of domestic shale gas supplies. The report also cautions that manufacturers must help manage the environmental, regulatory and tax concerns created by shale gas resources to realize those results. A copy of the full report is embedded below.
From the PwC press release:
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State officials in West Virginia are angry with Chesapeake Energy over the announcement that Chesapeake has signed a deal to ship ethane out of the Marcellus region via pipeline to the Gulf Coast for processing. A quick petrochemical lesson: Some of what comes out of the ground when drilling for natural gas is the chemical compound ethane—especially found in “wet gas” areas of the Marcellus like West Virginia. Ethane can be processed into ethylene, which is the raw material used to make plastics.
Early today, Norse Energy, a Norwegian company with gas drilling operations in New York State, issued an interesting press release about laying off half of their employees (see the full release below). Norse holds some 180,000 net acres of natural gas leases in New York, of which 130,000 are in the Marcellus and Utica Shale zones.
Shell Oil is “nearing a decision” on where to build a multi-billion dollar ethylene cracker plant in the Marcellus region, and states in that region—specifically Pennsylvania, West Virginia and Ohio—are aggressively competing to have the plant built in their state. (See