Some Young People Bypass College for a Marcellus Shale Job
A columnist in the Pittsburgh Post-Gazette asks the question, “Should young people consider putting off college in order to work a job in the Marcellus Shale?” And the surprising answer is, “Maybe.” She recounts her random run-in with a young man in the Pittsburgh airport who was flying home to visit his parents, as he does regularly. His job? Laying pipeline in the Marcellus Shale. Her point was that in a time of economic uncertainty like we are in, putting off college for a while and working in the shale gas industry may be the right choice for some young people.
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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
Chesapeake Energy CEO Aubrey McClendon on Monday appeared on Jim Cramer’s Mad Money show on CNBC to talk about the company’s new, oil-rich discovery in the Utica Shale of eastern Ohio. He had some fascinating things to say, including that he expects there to be some 25,000 wells drilled in the Ohio Utica Shale, and that there will be $10 billion per year for at least 20 years (or $200 billion) of investments in the Ohio Utica Shale alone. Yikes! No wonder Gov. John Kasich is “gushing” about Chesapeake’s discovery. An investment of 1/5 of a trillion dollars is a major big deal for Ohio—not only for landowners but also for businesses and for those who will be employed by drilling and associated industries. You cannot overstate how important this discovery is.