As you may know, the Marcellus Shale is considered to potentially be the world’s second-largest natural-gas field. A recent IHS report (more info here, too) underscores the fact that safe American oil and natural gas from shale formations will continue to expand, adding more jobs and economic activity, for decades:

IHS’s October 2012 report, America’s New Energy Future: The Unconventional Oil and Gas Revolution and the US Economy, highlighted the significant economic contributions that unconventional oil and gas are making today and will continue to make well into the future. More than $5.1 trillion in capital expenditures made between 2012 and 2035 for unconventional oil and natural gas activity will drive state economies. The study’s findings demonstrate that:

  • In 2012, capital expenditures will surpass $87 billion. These expenditures supporting the growth of unconventional oil and gas activity will reach $172.5 billion in 2020 and more than $353 billion in 2035.
  • Over 1.7 million jobs are attributable to unconventional oil and gas development today. These employment contributions are expected to rise to 3 million by the end of the decade and to 3.5 million jobs by 2035. On average, direct employment will represent about 20% of all the jobs resulting from unconventional oil and natural gas activity, with the balance contributed by indirect and induced employment.
  • In 2012, unconventional oil and natural gas activity will contribute over $63 billion in federal, state and local tax receipts. In 2020, total government revenues will grow to nearly $113 billion. On a cumulative basis, unconventional oil and natural gas activity between 2012 and 2035 will generate more than $2.5 trillion in tax revenues.
  • In 2012, unconventional oil and gas will contribute almost $238 billion in value added to the US economy. This contribution to gross domestic product (GDP) will increase more than 75% by 2020 to over $416 billion. By the final year of the forecast period, 2035, this will increase to nearly $475 billion.

Technologies continue to advance by the day, allowing energy producers to not only find more oil and natural gas resources, but also, and perhaps most importantly, do so in way that protects our environment. The Marcellus Shale is truly a generational opportunity for the region and for our country. As laid out in our Guiding Principles, MSC member companies “conduct our business in a manner that will provide sustainable and broad-based economic and energy-security benefits for all.”