We’ll take this question a few different ways. From a resource standpoint, the Marcellus Shale is the second largest natural gas field in the world and the largest shale producing formation in the United States, accounting for a full 10 percent of our domestic natural gas production and 25 percent of shale gas production. From a capital investment standpoint, each well averages more than $7 million to construct, according to the University of Pittsburgh’s Katz School of Business, and each mile of pipeline requires an investment of roughly $1 million. In terms of state tax revenue, since 2006, Marcellus Shale development is responsible for more than $1.8 billion revenue. On the jobs front, according to the Pa. Department of Labor and Industry, more than 240,000 jobs are directly or indirectly tied to natural gas development in the commonwealth. and lastly, from an environmental view, according to the U.S. Energy Information Administration, natural gas is primarily responsible for helping to reduce CO2 emissions to near 20 year lows.
So no matter how you cut it, we think it’s safe to say that the size and scale of this opportunity is historic.
