December 20, 2012
A new report sponsored by the U.S. Chamber’s Institute for 21st Energy revealed the tremendous job creation potential of shale energy in
The report, the second phase of a comprehensive study co-sponsored by the Energy Institute as part of the Shale Works for US initiative, details the benefits that shale energy will have on
According to IHS Global Insight,
“Shale-energy is a game-changer for
The study shows that by 2035, shale energy development will support 397,000 jobs. From 2012-35,
“Shale energy has already provided a major boost to our state, and this study clearly demonstrates that
Nationally, the IHS CERA study shows that by 2015, shale and unconventional energy will be responsible for 2.5 million jobs; by 2020, 3 million, and by 2035, 3.5 million In 2012, shale energy is responsible for $62 billion in tax revenue. Between now and 2035, shale energy development is expected to contribute more than $2.5 trillion in total tax revenue—about half of which goes to the federal government. Overall, between now and 2035, the energy industry will invest more than $5.1 trillion in energy development in the
The IHS CERA study is the second in a three-part series designed to shed light on the impact of shale. Part one of the study focused exclusively on the impact of operations surrounding the extraction of oil and gas (referred to as “upstream” operations.) The final installment—to come in early 2013--will examine the entire economic impact of shale, including components like manufacturing and chemicals (known as “downstream” operations).
A snapshot of shale energy’s impact on
The full report is available here.
Founded in 1916, the Pennsylvania Chamber of Business and Industry is the state's largest broad-based business association, with its membership comprising businesses of all sizes and across all industry sectors. The PA Chamber is The Statewide Voice of Business.