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oil field

‘Shale Effect’ Boosts Manufacturers’ Savings

oil fieldThe shale gas boom continues to be a boon to US manufacturing, according to a PricewaterhouseCoopers report that says the ongoing surge in shale gas production could bring manufacturers annual cost savings of $22.3 billion by 2030 and $34.1 billion in 2040.

The “shale effect” will also create 930,000 manufacturing jobs created by 2030 and 1.41 million by 2040, PwC says.

Shale oil benefits could pay for a smaller US carbon footprint, according to Purdue University economists.

In a report published earlier this year, the researchers said the US could see about a 27 percent reduction in its carbon footprint if just half of the unanticipated economic benefits of shale gas and oil production were used in the efforts, according to agricultural economists at Purdue University.

The researchers estimate that shale technologies annually provide an extra $302 billion to various sectors within the US economy, relative to 2007.

Photo Credit: Oil field by Christopher Halloran via Shutterstock

 

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One thought on “‘Shale Effect’ Boosts Manufacturers’ Savings

  1. If there is so much wealth being created from the shale gas fracking industry, why can’t the states require more oversight and inspections of wells to reduce the amount of degradation they cause to local environments?

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