Posted June 3, 2011
Carpe Diem: Drill, Drill, Drill = Jobs, Jobs, Jobs in North Dakota; Both Oil Production and Jobs Reach Record Highs: Along with the record production of oil in March, employment for natural resources and mining jobs reached a new record high in March of more than 14,000 jobs. That's a doubling of the number of oil jobs in just 16 months since December 2009, at a rate of more than 20 new oil jobs being added every business day of the week for the last two years. For the month of April, the jobless rate in North Dakota was only 3.3%, almost a full percent below the second lowest rate of 4.2% in Nebraska, and far below the national average of 9%. Pittsburgh Tribune-Review: Drilling Generates 48,000 Jobs: The boom in Marcellus shale natural-gas exploration and production created 48,000 jobs in Pennsylvania during the past 18 months, says a new state report. "The numbers are absolutely staggering. We certainly project the jobs will grow as production continues to expand," said Travis Windle, a spokesman for the trade group Marcellus Shale Coalition in Cecil in Washington County. The state's basic natural-gas exploration and production industries -- along with an extensive supply-chain network and support industry -- created the 48,000 jobs from October 2009 through this March, according to the report by the state Department of Labor and Industry. The total included hiring for 9,000 jobs during the three months ended March 31. Of the 48,000 new jobs, about 71 percent were filled by Pennsylvania residents, the state said in a separate report.
The Ithaca Journal: Investment from State Shows Gas in Our Future: As a whole, the natural gas industry employs nearly 3 million people in all 50 states. In states that allow development of the Marcellus Shale, the economic effects are already being realized. A Penn State University study determined that 48,000 jobs have been created as a result of Marcellus development. By 2020, it is estimated that the Marcellus-related industry could create 175,000 jobs. Additionally, in times of fiscal crisis, development of Marcellus Shale is generating badly needed revenue for state and local governments. The Pennsylvania Department of Revenue (DOR) announced on May 2 that companies engaged in and related to natural gas drilling activities in Pennsylvania, primarily in the Marcellus Shale, have paid more than $1.1 billion in state taxes since 2006. According to the DOR, those taxes came on top of the billions of dollars of infrastructure investments, royalty payments and permit fees paid by the industry.
Yahoo News: Canada to increase oil production 68% by 2025: Oil production in Canada, the largest supplier to the United States, is forecast to jump 68 percent to 4.7 million barrels per day by 2025, the Canadian Association of Petroleum Producers said Thursday. The rise in production from 2.8 billion barrels in 2010, largely in the Athabasca oil sands of Western Canada, reflects an improved investment climate, more robust commodity prices and increased market demand, the association said. During the 2009 economic downturn many oil sands projects were deferred, but several projects came back online in 2010. "This trend continues in 2011," CAPP said in a statement...As well, according to its report, new technologies have enabled a resurgence in production of conventional oil from tight reservoirs with low permeability. Total production would increase to 3.5 billion barrels of oil per day by 2015, to 4.2 billion barrels by 2020 and finally to 4.7 billion barrels by 2025.
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