Shale Gas: Creating Jobs, Economic Activity, Prosperity and Affordable Energy in a Town Near You
Thursday, November 19th, 2009 | 0 Comments
Dense, tight rock formations thousands of feet below the ground holding decades of clean-burning natural gas reserves are now being unlocked. How? With 21st century horizontal drilling technologies – coupled with hydraulic fracturing, a 60-year old technique – enormous amounts of homegrown, domestic energy previously out of reach are now being realized. And so are the economic benefits and jobs associated with this safe, responsible and well-regulated production.
With unemployment at a 26-year high, and expected to continue to climb for some time, natural gas production continues to serve as an economic and job creation engine.
Here’s a quick sampling of a few recent headlines:
Shreveport Times: “Haynesville Shale has protected area from recession. Northwest Louisiana residents repeatedly have heard over the past year or so how fortunate this region is to have the Haynesville Shale and its financial fortunes act as somewhat of a buffer against the national recession. Energy specialist Loren C. Scott echoed that Friday during a luncheon speech before 560 attendees of the second annual Haynesville Shale Expo inside the Shreveport Convention Center. The first to release a comprehensive evaluation of the oil and gas industry’s impact on the region, Scott put the shale into perspective, first through a detailed look at the national economic picture. “This has been a stinker,” he said of the recession that started in January 2008. “But there’s every indication we are out of it now, and we’re starting to grow again.” … For example, in 2008, when the shale was just a “baby,” more than $4.5 billion in new revenue was generated … Of that, about $3.1 billion was in lease payments. Tax receipts amounted to $153.3 million and more than 32,000 jobs were created.”
Arkansas News: “Officials to commemorate five years of drilling in Fayetteville Shale play … “’We’ve known there was natural gas in these shales for decades,’ said Ed Ratchford, senior petroleum geologist and fossil-fuel supervisor for the Arkansas Geological Survey. But tapping the reserves was not economically feasible until service companies like Halliburton and Schlumberger developed hydraulic fracturing technology to pull gas from “unconventional” wells, such as Fayetteville Shale, Ratchford said. … A well near Jerusalem produced the first gas for an energy boom that a 2008 University of Arkansas study estimated will generate $19.9 billion and more than 11,000 jobs for the Arkansas economy through 2012. … SWN Sand Co. is expected to produce more than 2 billion pounds of sand per year for Southwestern Energy’s drilling operations. SWN Sand plans to hire about 30 workers initially and up to 45 at full capacity.”
Shreveport Times: “Haynesville Shale activity creates job opportunities … There are a lot of options when it comes to job opportunities in the oil and natural gas industry. … The Haynesville Shale natural gas deposit has kept companies in northwest Louisiana. And they all need qualified employees. This area has become a haven for oil and natural gas professionals from throughout the country, said Angie White, vice president of North Louisiana Economic Partnership. “We have more oil and gas people in the area from all over because they have been laid off.” … Local colleges have announced several new programs in the oil and natural gas field. Among them is Bossier Parish Community College in Bossier City, which has started a petroleum technology program. … And Diesel Driving Academy is yet another option for job seekers. Its program trains people to obtain a commercial driver’s license. Many of its new graduates can earn up to $40,000 a year plus benefits.”
Tags:
