Posted February 28, 2014
The folks at Energy In Depth have a great video out that captures the key role natural gas is playing in the regeneration of U.S. manufacturing. Take a look:
It’s fairly simple: Because of available, affordable natural gas U.S. manufacturers are finding it more economical to conduct operations right here at home – producing more, hiring more, contributing more to the economy. As the video depicts, natural gas will help support more than 500,000 new U.S. manufacturing jobs by 2020. From an IHS-CERA study:
US manufacturers are benefitting from the availability of a secure supply of low-cost natural gas, especially for manufacturers in energy-intensive industries. Energy-intensive sectors like energy-related chemicals, petroleum refining, aluminum, glass, cement, and the food industry are expected to invest and expand their US operations in response to declining domestic prices for their energy inputs. This study quantifies these contributions to the US manufacturing sectors, including: By 2015, lower natural gas prices and higher activity will result in an impact of 2.8% higher industrial production. By 2025, industrial production will be 3.9% higher.
U.S. energy runs America, and it’s fueling the renaissance in U.S. manufacturing that few could have imagined less than a decade ago. Thanks to natural gas and oil from shale and other tight-rock formations – safely and responsibly developed with advanced hydraulic fracturing and horizontal drilling – U.S. companies can build more here, hire more workers here and invest more here – truly a win-win-win story.
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.