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Manufacturers: Shale Production Driving Manufacturing Renaissance

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Manufacturers: Shale Production Driving Manufacturing Renaissance

According to a report released today, the United States will continue to reap enormous economic and job-creation benefits from domestic oil and shale gas production.

“This report confirms that manufacturers’ best days are ahead and that the shale revolution could spur economic growth and job creation for years to come,” said National Association of Manufacturers (NAM) President and CEO Jay Timmons in reaction to the recent IHS report cosponsored by the NAM and other trade associations. “Unfortunately, this growth is not a foregone conclusion. Overreach by state and federal lawmakers and regulators could slow this progress and, in the worst case, stop it.”

The report found that increased oil and gas production made possible by advances in shale technology is supporting millions of jobs, increasing household incomes, boosting trade and contributing to a new increase in U.S. competitiveness around the world. Key report findings include the following:

  • The combined upstream, midstream and downstream unconventional oil and gas production process, and the chemical industry benefiting from it, will support more than 460,000 combined manufacturing jobs by 2020, rising to nearly 515,000 by 2025.
  • Unconventional oil and gas activity supports more than 2.1 million total jobs. By 2025, this number will reach nearly 3.9 million.

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