NEWS: Media Outlets Report on New Report Showing Dramatic Growth and Jobs Potential of U.S. Shale Gas Production

December 6, 2011

WASHINGTON, DC -- A new report released today by IHS Global Insight underscores the positive economic impacts of U.S. shale gas production. Recent advances in extraction technologies have allowed affordable access to shale gas resources, leading to a dramatic growth in domestic energy production. This new energy boom is creating jobs, generating government revenues, and advancing our nation's energy security.

The report found that shale gas development currently supports over 600,000 jobs and will likely support up to 870,000 jobs by 2015.... The authors project the industry will generate nearly $1.9 trillion in capital investments between 2010 and 2035 and will contribute more than $933 billion in government revenues over the next 25 years.

"We are experiencing an American energy renaissance--a development boom that is supporting hundreds of thousands of jobs, spurring much-needed investment, and creating long-term energy stability and affordability. Shale gas is not only transforming our energy economy, but it is also bringing our industrial and manufacturing sectors back to life.... New extraction technologies represent exactly the kind of American ingenuity we need to revive the economy. We need to make sure we are developing our resources safely and without burdensome red tape that would slow the job creation and energy potential of this vast American resource," said Energy and Commerce Committee Chairman Fred Upton (R-MI).

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The Houston Chronicle: A nationwide boom in natural gas production is set to fuel nearly 900,000 jobs and add roughly $1,000 to annual household budgets by 2015, according to a new industry study released Tuesday.

Bloomberg BusinessWeek: Producing natural gas from shale will support 870,000 U.S. jobs and add $118 billion to economic growth in the next four years, according to a report from IHS Global Insight.

Reuters: North America's massive supplies of natural gas have brought new found wealth to the U.S. job market and are a bright spot in an otherwise struggling economy, a new report from forecaster IHS Global Insight shows.

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