Today, NAM President and CEO Jay Timmons joined other business leaders at an event launching the American Shale & Manufacturing Partnership (ASMP), a multi-stakeholder initiative focused on shale development and its impact on the supply chain for American manufacturing. As users of one-third of the nation’s energy, manufacturers know well that lower energy prices have a positive ripple effect throughout the supply chain and strengthen our competitive advantage.
During a panel focused on shale’s impact on manufacturing, Timmons highlighted the enormous impact that the shale boom is having on the sector, “regardless of sector or size, the shale boom is working for manufacturers. We are making new investments, thanks in part to lower feedstock costs. Many of these investments could take years before they are fully operational, so we’ll continue to see benefits from them well into the future. A recent study conducted by the global research firm IHS projects that the development of shale oil and gas will boost employment by almost 4 million jobs by 2025.”
While noting that manufacturers are seizing this opportunity, Timmons also raised the question on every industry’s mind: Will Washington get in the way? “Unfortunately, this growth is not a foregone conclusion. Overreach by state and federal lawmakers and regulators could slow this progress and, in the worst case, stop it. To realize our full energy potential, we need government policies that support the continued development of oil and gas resources, energy infrastructure projects and manufacturing growth.”