Shale Gas Will Increase Jobs, GDP, Tax Revenues and Industrial Output, and Lower Elec. Costs
Bloomberg reports on a new study from IHS Global Insight about the benefits of shale gas drilling for the U.S. economy, here are some highlights:
1. Producing natural gas from shale will support 870,000 U.S. jobs and add $118 billion to economic growth in the next four years.
2. Gas from shale, which accounts for 34% of U.S. output, also will contribute $57 billion in federal, state and local taxes by 2035, or $933 billion in the next 25 years.
3. The shale-gas contribution to U.S. gross domestic product will triple to $231 billion in 2036 from $76 billion last year.
4. Lower natural gas prices as shale boosts supply will cut U.S. electricity costs by an average of 10%. Lower prices will raise industrial production 2.9% by 2017 and 4.7% by 2035.
4 Comments:
It's a shale of a story. Nothing fishy about it.
I wonder if Megabus runs on CNG? It should.
I guess that Bloomberg forgot to look into when the shale producers will have positive cash flows that will make the production sustainable.
Mark, if you can believe it, Oregon's Attorney General is claiming that allowing LNG to be exported from the USA is detrimental to the citizens of the USA.
Reason? Exporting LNG will cause natural gas prices to rise, and therefore cost the consumer more.
The AG is citing this as a good reason to deny a permit for an LNG plant on Oregon's coast.
I'm not making this up.
http://www.kmtr.com/news/local/story/Ore-state-lawyers-want-LNG-permits-revoked/YKBFiWuQlES9FbBVJ1S9DA.cspx
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