[h=3]Report: US's Vast Natural Gas Shale Reserves Could Create A Million Manufacturing Jobs.[/h]The
Philadelphia Inquirer (12/15, Maykuth) reports, "The abundance of natural gas from formations such as Pennsylvania's Marcellus Shale may spark a US manufacturing renaissance that could add one million jobs by 2025, according to a report released" by PwC. According to the report, "manufacturers could save as much as $11.6 billion a year by 2025 from lower gas prices. Natural gas is used as a fuel source and as a raw material for commodities like plastics and fertilizer."
The
Pittsburgh Tribune-Review (12/15, Napsha) reports National Association of Manufacturers President and CEO Jay Timmons said that "the amount of gas in the Marcellus shale reserves in Pennsylvania, New York and West Virginia, and about 25 other shale plays in the United States, estimated at 862 trillion cubic feet, is sufficient to be 'absolutely a game-changer for the US economy.'" Robert McCutcheon, US industrial products leader for PwC, which produced the report with the manufacturer's association, said "the jobs would be created by companies expanding or building new plants, as well as companies bringing manufacturing jobs back to the" US. "The number of US chemicals, metals and industrial manufacturing companies that disclosed shale gas potential and its impact so far in 2011 easily surpassed that of the last three years combined, indicating this is of growing importance in the outlook of US manufacturers," McCutcheon said.
Also covering the story are
IndustryWeek (12/15, Katz),
Politico (12/15, Reis), the
Pittsburgh Business Times (12/15, Spencer, Subscription Publication) "Energy" blog and
NorthCentralPA online (12/15).