A PricewaterhouseCoopers (PwC) report released today found that U.S. natural gas production could bring an annual cost savings of $22.3 billion by 2030 for U.S. manufacturers and up to $34.1 billion by 2040. And in addition will create 930,000 natural gas driven manufacturing jobs by 2030, 1.41 million by 2040. The NAM and American Chemistry Council contributed to PwC’s report.
A similar study released in 2011 had projected one million manufacturing jobs would be created by 2025 due to the uptick in shale gas exploration and recovery, and could mean more than $11 billion in cost savings to manufacturers. With some of those jobs having been created in the last three years since that study, the new projections show that there will be even larger gains in shale gas driven manufacturing jobs, as well as even greater costs savings. (continue reading…)