Posted December 12, 2014
Report: ‘Shale Effect’ Saving Manufacturers More Money than Expected
Pittsburgh Business Times: It's no secret that the shale energy boom is having an impact on the manufacturing sector, but according to a report released Thursday by PwC US, that impact may be bigger than expected.
As a result of the surge in shale gas production, the firm increased its forecast on cost savings and long-term employment gains in domestic manufacturing. According to the report, PwC estimates the "shale effect" could bring an annual cost savings of $22.3 billion by 2030, assuming a high natural gas recovery and low price scenario.
In terms of job creation, PwC estimates continued shale activity will create 930,000 shale gas driven manufacturing jobs by 2030 and 1.41 million by 2040.
Read more: http://bit.ly/1BpYicy
More industry news:
Shale Boom Spurs Chemical Industry Expansion: http://bit.ly/1BpTzI0
How Much Counties Have Been Getting from Marcellus Shale Impact Fee: http://bit.ly/1sk6riY
LTE: Expanding the Cove Point Natural Gas Plant is Good for Calvert County: http://wapo.st/1wJAHFz
Rust Belt Rebound: http://cnb.cx/1yHoBYx
Cheap Natural Gas Lures Private Equity to Power Industry: http://bloom.bg/1BpUqsd
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.