Natural Gas Brings A Renaissance in Chemical Manufacturing and Maybe 35,000 Jobs to LA
WWL.COM -- "Louisiana could see an influx of more than 35,000 jobs due to new access to vast, new supplies of natural gas from shale deposits, which could be one of the most dramatic domestic energy developments in the last 50 years, according to American Chemistry Council. Louisiana has the second largest chemical industry in the nation, and shale gas is a critical component.
"That really provides the opportunity for what will be a renaissance in chemical manufacturing in the United States and Louisiana is uniquely positioned to capitalize on that." Cal Dooley, president and CEO of the American Chemistry Council says their economic analysis projects that in the next 5 years there will be an additional $5.4 billion in capital investments in chemical manufacturing and related services in Louisiana."
6 Comments:
Louisiana COULD see...
Everything depends on an industry that can produce shale gas at a profit. But from what I have seen in the 10-K filings there are few companies that can make a profit at anywhere near the current price levels. This makes the expectations somewhat moot at this point in time.
Jobs back to California?!?!
If the following IBD editorial is even only partially factual that will be a very speculative call...
Juandos, LA not L.A.!
BTW, Peak Oil Doomers:
Back in the ate 1970s, when I was in grad school, and "Limits to Growth" was an influential book, we believed we would run out of oil by 2000 and we would be farting into tubes to collect the natural gas by now.
Instead we have natural gas up our rear ends to the moon, and oil is this high in price only because thug nations control the supply.
The future looks cleaner and more prosperous!
And God Bless Juandos.
Juandos, LA not L.A.!
Thanks for that. I couldn't figure out why he was talking about California.
I was shocked to see this headline too, until I realized it meant Louisiana, not Los Angeles. Of course nobody in their right mind would open up a chemical or any other plant in California these days:
http://news.yahoo.com/california-green-lights-emissions-cap-trade-program-224300630.html
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