Pittsburgh, Pa. – Earlier this week, President Obama’s nominee to be the next U.S. secretary of energy, Ernest Moniz, told Congress that “‘a stunning increase’ in production of domestic natural gas in recent years was nothing less than a ‘revolution’ that has led to reduced emissions of carbon dioxide,” as the Associated Press reports under the headline Moniz backs natural gas ‘revolution.’ Adds the AP: “The natural gas boom also has led to a dramatic expansion of manufacturing and job creation, Moniz told the Senate Energy Committee.”
Likewise, the Washington Times reports that Dr. Moniz “praised the U.S. natural gas ‘revolution’ brought about by widespread use of fracking and said it must continue.”
The safe, tightly-regulated development of America’s clean-burning natural gas resources is creating a positive economic ripple effect across the nation, spreading beyond energy. Here are some of these important job-creating and energy-security-related facts, by the numbers:
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#1 |
“Given the United States’ geopolitical significance, it will effectively turn into the most influential player on the global hydrocarbon market,” the report from the Russian Academy of Sciences said. (Wall Street Journal, 4/10/13) |
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Consumers Paying Only $1.95 a Gallon |
Sidney Glick of Bath Township said he has two cars that are powered by natural gas. He said he just filled up one of his [CNG] vehicles at Smith Dairy in Orrville, which has a private/public natural gas station, for $1.95 a gallon. (Akron Beacon Journal, 4/8/13) |
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U.S. Energy CO2 Emissions |
Thanks to expanded natural gas production and use, “Energy-related CO2 emissions in 2012 were the lowest in the United States since 1994.” (EIA, 4/5/13) |
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U.S. Natural-Gas Reserves |
An industry group sharply raised its estimate of how much natural gas could be produced in the U.S., thanks to new technologies. The Potential Gas Committee pegged the country’s potential natural-gas resources at 2,384 trillion cubic feet. That is up 26% from the group’s previous calculation at the end of 2010. (Wall Street Journal, 4/9/13) |
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Shale Gas Now Accounts for 30% |
“Shale will power US economy”: The statistics for the US speak for themselves: shale gas now accounts for 30 percent of total gas consumption compared with just 1 per cent in 2000. … Moreover, the increased production and availability of gas has meant lower demand for imports. Indeed, in just four years, the US has gone from being the world’s largest importer of gas (in 2007) to being largely self-sufficient. (FT, 4/7/13) |
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U.S. Economy Benefits Under 60 |
Indian ambassador to the U.S.: The [U.S. energy dept. commissioned] study analyzed more than 60 different macroeconomic scenarios, and under every one of them the U.S. economy would experience a net benefit if LNG exports were increased. A boost in LNG exports would have many positive effects on both the U.S. and Indian economies. For the U.S. it would help create thousands of jobs and an expanded revenue stream for the federal government. (WSJ op-ed, 4/8/13) |
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Appalachian Basin Shale Gas |
As a result of a substantial increase in the assessment of Appalachian basin shale gas, the PGC now ranks the Atlantic area as the country’s richest resource area with 33% of total U.S. traditional resources. … The largest volumetric and percentage gains were reported for Appalachian basin shales (primarily the Marcellus but including other Devonian shales and the Utica), which collectively rose by 335 Tcf (147%). (PGC, 4/9/13) |
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Historic 153 Acre Northeastern Pa. |
After spending years immersed in the debate about unconventional gas production, Denise Dennis overcame her doubts and leased her mineral rights to Cabot Oil & Gas Corp. in December 2012. Her decision brought criticism from the anti-fracking voices she was once associated with, but it also secured important funding for her trust. Dennis said she has always had just one goal throughout her journey. “I want to do the best thing for the farm — I don’t want to be the person after over 200 years who is responsible for something going wrong,” Dennis said. (E&E News, 4/9/13) |
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Marcellus Supply Chain Company |
U.S. Rep. Joe Pitts: “Energizing America with natural gas”: While the Marcellus Shale is in the western part of Pennsylvania, our local economy has benefited from increased production. Rettew, an engineering firm in Lancaster, has seen its company grow from 189 to 500 employees in just three years. Company President Mark Lauriello pointed out how this increase in the firm’s business has helped other Lancaster businesses. Rettew recently spent $4.5 million on a new headquarters constructed with local labor and suppliers. As the firm has grown, it has purchased dozens of new vehicles from local car dealers. (Lancaster New Era op-ed, 4/7/13) |
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3 Million American Jobs |
America is the world’s largest consumer of natural gas, but also the largest producer of natural gas, which translates not only into enhanced energy security, but also job creation. The natural gas industry, directly or indirectly, currently is responsible for 3 million jobs. The equation is simple: the more natural gas produced and used, the more domestic industry-related jobs created. (Progressive Policy Institute, 4/9/13) |
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Pa. Marcellus Impact Fee |
Governor Tom Corbett announced Thursday that the Marcellus Shale Impact Fee has brought in more than $400 million dollars in its first two years. The impact fee on natural gas drillers is part of Act 13 that was signed into law in February 2012. (WHTM, 3/4/13) |
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U.S. Produced 8,500,983 mcf |
In 2011, the USA produced 8,500,983 million cubic feet of natural gas from shale gas wells. Taking an average price of $4.24 per thousand cubic feet, that’s a value of about $36 billion, due to shale gas alone. (AEI, 4/4/13) |
