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The Shale Revolution

  • 26 Oct 2012 10:41 AM
    Message # 1114651
    Anonymous member (Administrator)

    Dear Texas Chamber Friends,

    While many Americans are just beginning to learn about this “shale revolution” in energy, the beneficial impacts have been growing, and look to expand exponentially in the coming years.

    The Institute for 21st Century Energy at the U.S. Chamber of Commerce has partnered with other associations and IHS-CERA, a leading independent global energy consulting firm, to quantify the existing and expected economic and energy security impacts. The resulting report, America’s New Energy Future: The Unconventional Oil & Gas Revolution and the U.S. Economy, is the first-ever attempt to examine the shale revolution across the entire country and provide concrete national metrics to help Americans begin to understand how large this revolution is…and will be.

    The report’s numbers are staggering…


    EMPLOYMENT

    o   Shale energy development has created 1.75 million jobs over the past few years alone, and is expected to account for 2.5 million jobs in 2015, 3 million jobs in 2020, and 3.5 million jobs in 2035.

    o   Shale energy workers are making 50% more than national average

     

    TAX REVENUE

    o   Between now and 2035, shale energy development is expected to contribute more than $2.5 trillion in government revenues (more than half of which at the state and local levels), with $62 billion in 2012 alone.

     

    ECONOMIC GROWTH & INVESTMENT

    o   Between now and 2035, $5.1 trillion is expected to be invested in shale energy development; with $87 billion in 2012 alone.

    o   This investment will contribute $238 billion to the U.S. economy in 2012, accounting for nearly 2% of GDP over the next 3 years.

     

    ENERGY SECURITY

    o   Shale oil production has been the primary driver behind the 25% increase in domestic oil production in the last 4 years. In 2015 oil production is expected to increase 46% over 2008, predominantly because of the shale energy revolution, and a 68% increase by 2020.

    o   Net oil imports are expected to decrease 60% by 2020, reducing America’s imported oil bill by $200 billion.

     

    Please visit http://www.energyxxi.org/shale for more information on the report and the shale campaign.

  • 26 Oct 2012 10:41 AM
    Reply # 1114652 on 1114651
    Anonymous member (Administrator)
    Oil and gas boom seen creating 3.5 million jobs by 2035

    By Jim Landers
    jlanders@dallasnews.com
    9:55 am on October 23, 2012

    WASHINGTON undefined IHS CERA released a bullish report on U.S. oil and gas production Tuesday that finds the shale gas and tight oil boom spreading from Texas to North Dakota has created 1.7 million jobs.
    The report forecasts a continued surge in economic growth from the energy boom through 2035, with cumulative job growth of 3.5 million and capital expenditures of $5.1 trillion.

    Texas is a major beneficiary of this trend, with oil and gas production rising in the Permian Basin and the Eagle Ford and Barnett shale deposits. While oil imports still account for more than $300 billion of the nation’s almost $700 billion trade deficit, the report says that number is quickly falling as domestic oil production rises. By the end of the decade, oil imports should fall 4.5 million barrels a day below what they were in 2005, curbing spending on foreign oil by $185 billion a year.

    The report is available at www.ihs.com/unconventionalsandtheeconomy

Giddings Chamber of Commerce
183 E. Hempstead
Giddings, TX 78942
Located in the Lee County Museum, off the Courthouse Square

Contact:  (979) 542-3455
Chamber email:  chambergiddings@gmail.com
Tourism email:  giddingschamber@gmail.com


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