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Energy Tomorrow Blog

Deeper Dive: The Economic Lift of Oil and Natural Gas Development

jobs  upstream  midstream  downstream 

Mark Green

Mark Green
Posted September 5, 2013

More from the new IHS report on the economic impacts of U.S. unconventional oil and natural gas development – with a deeper focus on jobs.

We posted on the report's big numbers yesterday: IHS projects the full unconventional value chain – the oil and natural gas industry’s upstream, midstream and downstream sectors and energy-related chemical industries – could support 3.3 million jobs by 2020 and nearly 3.9 million by 2025. Energy from shale and other tight-rock formations supported 2.1 million jobs in 2012.


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Energy Today – September 5, 2013

jobs  Economy  hydraulic fracturing  keystone xl  keystone xl pipeline 

Mary Leshper

Mary Schaper
Posted September 5, 2013

How America’s Oil and Natural Gas Revolution is Helping Consumers and Workers

CNN Money (Daniel Yergin): The rapid rise in shale gas and tight oil in the United States constitutes nothing less than a revolution in oil and natural gas. No longer can there be any doubt about the dramatic change in America's energy position. U.S. oil production is up 50% since 2008, when we were supposedly slated to run out of oil. Natural gas production has increased by 33% since 2005, and shale gas alone now constitutes about 45% of total natural gas production.

This revolution is not just about energy production; it's an economic story along several dimensions, whether measured in consumers' pocketbooks, jobs, U.S. manufacturing output, or America's increased competitiveness in the world economy. This has occurred amid a half-decade of deep recession and high unemployment. Indeed, without the boost from the unconventional oil and gas development, the U.S. economic picture would have looked even worse over the last few years.

Read more: http://bit.ly/15ClGse

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Our Promising Energy Present and Future

jobs  Jobs and Economy 

Mark Green

Mark Green
Posted September 4, 2013

You’ve heard about the U.S. shale energy revolution. Now a  new study from IHS quantifies the revolution’s breadth, depth and future promise, one that could see major oil and natural gas industry job creation stemming from development of unconventional reserves as well as billions of dollars in economic stimulus, manufacturing sector expansion and significant new revenues for governments at all levels. Needed: the policies to sustain and build on that revolution.

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Energy Today – September 4, 2013

jobs  economic growth  hydraulic fracturing  trade 

Mary Leshper

Mary Schaper
Posted September 4, 2013

U.S. Energy Lifting Economy More Than Expected

USA Today: Newly found sources of domestic oil and natural gas are having an even bigger impact on the economy than first projected, adding more than $1,200 last year to the discretionary income of the average U.S. family, a new study says.

The explosion in domestic energy production now supports 1.2 million jobs, directly or indirectly, says consulting firm IHS, in a study released Wednesday. That number will grow to 3.3 million by 2020, and new energy's contribution to U.S. families' disposable incomes will hit $2,000 per household per year by 2015, said IHS.

Read more: http://usat.ly/13eFEFC

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Energy Today – September 3, 2013

engineers  jobs  hydraulic fracturing  revenue 

Mary Leshper

Mary Schaper
Posted September 3, 2013

COLUMN – Your Kids Should Consider Petroleum Engineering

Reuters: Encouraged by some of the highest starting salaries available in any industry, record numbers of students are enrolling in petroleum engineering courses at U.S. universities.

It is part of a broader renaissance in engineering education, which should eventually ease severe skill shortages in the oil and gas sector.

But it will be the end of the decade before these new graduates are the experienced professionals needed to lead teams and make a real difference to exploration, output and refining.

In 2010, 1,295 graduate students enrolled in petroleum engineering courses at U.S. universities, according to the U.S. Department of Education's "Digest of Education Statistics."

Read more: http://reut.rs/15V2jb8

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White House Recognizes Oil and Natural Gas Benefits

jobs  Economy  access 

Mark Green

Mark Green
Posted September 3, 2013

It’s good to see a pair of senior White House officials pointing to increases in domestic oil and natural gas production as key factors in an improving U.S. economy. On the White House Blog, Gene Sperling, director of the National Economic Council, and Jason Furman, chairman of the Council of Economic Advisors, write about last week’s upward revision in second-quarter GDP from 1.7 percent to 2.5 percent.

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For U.S. Oil, Natural Gas - Every Day is Labor Day

jobs  Economy  economic growth 

Mark Green

Mark Green
Posted August 30, 2013

Like our “jobs quilt” below? When thinking about the oil and natural gas industry’s contribution to the economy and everyday American life this Labor Day weekend, the 9.8 million jobs supported by the industry come to mind.

The squares in the “quilt” detail industry’s jobs impact in various states – reflecting the fact that the economic lift of oil and natural gas development reaches all 50 states and the District of Columbia, according to a recent PwC report.

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Energy Today – August 28, 2013

hydraulic fracturing  jobs  marcellus  water  regulations 

Mary Leshper

Mary Schaper
Posted August 28, 2013

The Infrastructure Supporting America’s Energy Renaissance Begins in Texas

Fuel Fix Blog: While many states throughout the nation struggle to make ends meet, surrounded by economic uncertainty, Texas is booming. Robust investment in the energy industry – from deep-water drilling to above ground production, and everything in between – has allowed the state to succeed despite an inconsistent U.S. economy.

None of this is news to those living in the Lone Star State – and in fact Texas has received a steady stream of national attention for its economic success – however it is worth noting that a key reason for such outstanding growth has been the investment in and development of our nation’s extensive energy infrastructure.

In April 2013 alone, Texas created over 33,000 jobs, which is more than any other state in the country, and nearly one-fifth of all the jobs created in the United States.

Read more: http://bit.ly/1dQjBcL

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Energy Today – August 27, 2013

hydraulic fracturing  emissions  jobs 

Mary Leshper

Mary Schaper
Posted August 27, 2013

The Geography of Jobs: Smart Policies Are Good, But Oil Is Better

The Atlantic: If you want to understand how to create jobs -- not just a few at a time, but hundreds of thousands at once -- look to Texas and North Dakota.

Together, these two states account for a little more than 8 percent of the country's population -- about one in 12 people. But they're also responsible for 20 percent of net new jobs since the end of the recession. And, crucially, they account for "more than 100 percent of the increase in U.S. [oil] production since 2009," James Hamilton writes.

The Great Plains have been relatively great throughout the recovery for many reasons -- cheaper land, cheap wages, service sectors insulated from the housing-finance crisis that leveled parts of California, Florida, Arizona, and Nevada -- but energy has helped a lot. 

Read more: http://bit.ly/1823p3p

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Americans' Concerns, Energy's Solutions

jobs  access  economic growth 

Mark Green

Mark Green
Posted August 22, 2013

National Journal has a couple of interesting offerings this week – an article exploring why Americans don’t seem to care what scientists think about climate, and its Energy Experts Blog question of the week asking what Americans think about energy and climate policy. (API President and CEO Jack Gerard’s response, here.)

A simple observation is that while Americans do think about climate and the role policy could play in affecting climate, they think about other things more.

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