Marcellus Shale Natural Gas Play Promises 212K Jobs in Pennsylvania During Next 10 Years

Bob McCarty Writes ^ | 5-25-10 | Bob McCarty

[BobMcCartyWrites]

The Marcellus Shale natural gas play hold potential to produce 212,000 jobs during the next 10 years and generate $1.8 billion in tax revenues by 2012.

[BobMcCartyWrites]

Imagine 212,000 new jobs during the next 10 years in Pennsylvania alone.

Contemplate generating $1.8 billion in state and local tax revenues during the next 18 months.

Think about the energy security provided by a natural resource that has the potential to produce 13.5 billion cubic feet of natural gas per day.

Now, go beyond imagining, contemplating and thinking. Realize that the statistics above portray the real potential that lies in the safe and steady development of clean-burning natural gas in Pennsylvania’s portion of the Marcellus Shale, according to the findings of a study released today by professors from Penn State University.

“At a time when more than half-a-million people in Pennsylvania are currently out of work, the release of this updated report from Penn State today confirms the critical role that responsible energy development in the Commonwealth can play in substantially, perhaps even permanently, reversing that trend,” said Kathryn Klaber, president and executive director of the Marcellus Shale Coalition. “Last year alone, Marcellus producers paid more than $1.7 billion to landowners across the state, and spent more than $4.5 billion total to make these resources available. By the end of this year, that number is expected to double, and millions of Pennsylvanians will find themselves the direct beneficiaries of that growth.”

The continued ramp-up of responsible exploration activities throughout the Commonwealth over the next decade is, according to the study findings, expected to bring online an additional 13.5 billion cubic feet of natural gas a day, nearly seven times the amount that Pennsylvanians currently use on a daily basis. This extraordinary increase in daily natural gas output results in the creation of more than 211,000 new jobs in the Commonwealth, along with $18.85 billion in value added resources for the state’s economy. As significant, the study also finds that for every $1 invested in the state by Marcellus Shale producers, $1.90 of total economic output is generated as a result – a phenomenon that’s come to be known as the “Marcellus Multiplier” among the hundreds of individual industries up and down the Marcellus supply chain that continue to benefit from this work.

But that’s just for the state of Pennsylvania. Looking long-term at the formation’s economic and strategic potential, the study’s authors suggest that the Marcellus Shale could “be the second largest natural gas field in the world” if fully developed – providing an amount of energy for the American consumer “equivalent to the energy content of 87 billion barrels of oil.” For scale, the entire United States currently consumes roughly seven billion barrels of oil a year, with Pennsylvania consuming about 253 million barrels of that, according to the Energy Information Administration.

“In the near term, we’re talking about the creation of tens of thousands of family-supporting jobs, and billions in wages, revenues and royalties – on top of all the economic benefits being delivered to the state right now,” added Klaber. “Further out, this work has the potential to deliver a sustainable energy resource to millions of consumers, and long-term revenue streams to state and local governments -- all while contributing materially to the achievement of key national imperatives related to energy, the economy, our security and our environment.”

[mountainlion]

That will not work in Colorado because Ritter, Salaczar... say it won't.

[Tigen]

Only a few problems of which is 0bama and minions ... remember 0s pledges during the campain we will tax them...

[bigbob]

Would this be impacted if the EPA decides that hydraulic fracking results in contamination of drinking water?

If we had a President like Sarah Palin who understands the energy biz, it would be great news, but I don’t trust Obama and his ilk not to sabotage domestic oil/gas production just to further his “green” agenda.

[BobMcCartyWrites]

It’s already working in Colorado. In fact, I went to Colorado one year ago and reported on it. To read it, go to my blog, where I originally posted this piece, and click on the link at the end of the story.

[DallasDeb]

Nobama and his hoods will figure out some way to delay or kill the project.

[Hoodat]

Nope. Can’t have that. These aren’t green jobs. Besides, they don’t require a government subsidy. What are they trying to do? Make Obama look bad?

[CPT Clay]

Banning Hydraulic Fracking is the way the communists in the administration intend to stop this.

Heaven knows we cant have an additional 212,000 workers, procucing that dont owe anything to the ONE.

[reefdiver]

NY State is just about ready to ban horizontal drilling, that will stop any drilling along the border a contractor just told us last week.
They will just drill 2’ south of NY. They don’t have to play the game.

[Darth Reardon]

So, is it “Promises 212K Jobs” or “hold potential to produce 212,000 jobs”?

[mountainlion]

Udall, Schaffer, Salizar, Ritter and the Colorado legislature have banned exploration and experimentation on oil shale. They have banned new drilling on federal property. Most of the oil people left for Pennsylvania. Oil is dead in Colorado.

[BobMcCartyWrites]

It’s a promise as long as the feds and greenies don’t kill it.