National

Marcellus Shale a Massive Job-Creator, Reports Continue to Confirm. Yesterday in PA, Today in NY.

With some policymakers focusing on slowing, or altogether halting, the production of clean-burning natural gas here in America, their claims and contentions continue to be proven false by the flurry of economic data and years of strong regulation and safety surrounding domestic energy production, particularly as it relates to hydraulic fracturing.

Commissioned by the Broome County, New York government, applied economics professors at the University of North Texas found that environmentally-sound, well-regulated natural gas production, through the use of hydraulic fracturing, could over the next decade create:

  • $ 792 million in wages, salaries, and benefits;
  • More than 16,000 new jobs; and
  • More than $85 million in state and local tax revenues.

Local government officials, who understand the struggles facing their community, and the economic opportunity and job creation that is presented by safe energy development in the Marcellus Shale region have weighed in, too:

  • Barbara Fiala, Broome County Executive: “Fiala says the millions of dollars in revenue the county could gain from drilling could be used to ease the burden of taxes on the county’s eroding tax base. … ‘This is a lot of revenue for New York State, not just Broome County. It’s additional revenue for the state.'”
  • Darcy Fauci, Broome County Economic Development: “This is something that can truly infuse a lot of capital into our region.”
  • Joe Sluzar, Broome County Attorney: “The drilling will have a ripple economic effect and everyone should benefit.”

Earlier this week, a report was issued by Penn State University that found natural gas production in the Marcellus Shale region, enabled by hydraulic fracturing, has generated:

  • More than $240 million in state and local taxes for Pennsylvania last year;
  • 29,000 good-paying jobs; and
  • $2.3 billion in total economic development.

Importantly, the independent PSU academics – who determined that as many as 176,000 new jobs could be created in Pennsylvania over the next decade – described the anti-fracing DeGette-Casey as such:

  • There is little question that this type of legislation would accomplish little in terms of protecting potable freshwater but would be disastrous in terms of the domestic oil and gas industry, raise prices for gasoline and natural gas, and ultimately derail any efforts to address the need to reduce carbon emissions.”
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