In their latest report on the economic benefits of the shale revolution, the global research firm IHS makes a number of encouraging findings. IHS estimates that the unconventional oil and gas value chain already supports over two million jobs, is responsible for $1,200 in average additional net income per household and is contributing nearly $300 billion to GDP. The most promising finding for manufacturers is that the best is yet to come. Looking at just one manufacturing sector, the chemical manufacturing sector, capital investments in new plants and expansion at existing plants is expected to more than triple in just four years.
These estimates are not theoretical; they are largely based on real projects that are already under development, some of which are identified in the report. Similar growth is expected in several manufacturing sectors, which collectively will drive more production, create more jobs and further fuel the economy.
Latest posts by Greg Bertelsen (see all)
- Sen. Jeff Flake (R-AZ) Offers Legislative Relief for 2015 Ozone Regulation - February 28, 2017
- Ozone Implementation Relief Bill Introduced in House and Senate - February 7, 2017
- Energy-Efficiency Bill Introduced in House and Senate to Promote Public–Private Partnerships - January 31, 2017