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Shale Gas Boom will Create 2.4 Million Jobs by 2035

The research and analysis firm IHS Global Insight has released a new study looking into the unconventional gas sector, and predicts that the shale gas boom will create nearly 1.5 million new jobs by 2015.

The huge sums invested in unconventional gas accounted for 1 million jobs in 2010 in both producing and no-producing states, and this figure is expected to grow to 2.4 million by 2035.

The shale gas boom will continue to drive the national economic growth, receiving $3.2 trillion in cumulative investment between 2010 and 2035, and contributing $332 billion to US gross domestic product by 2035.

Roger Ihne, the principal energy portfolio leader for the research firm Deloitte, said that although there is a current oversupply of natural gas in the US forcing major producers to cut back on production and operations, the industry is still expected to grow over the years.

In the report John Larson, the vice president of the IHS, wrote that, “at a time when the U.S. economy is slowly recovering from the Great Recession and struggling to create enough jobs to sharply reduce the unemployment rate, the growth in shale and other unconventional natural gas production is a major contributor to employment prospects and the U.S. economy. As this report makes clear, these benefits spread beyond producing states to deliver positive impacts across the country.”

By. Charles Kennedy of Oilprice.com

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  • Sid Abma on June 20 2012 said:
    Natural gas is going to make our country energy independent, and one day we will share our technology with the rest of the world.
    Natural gas can be utilized to almost 100% energy efficiency.
    Natural gas is designed to be combusted, but with the technology of Condensing Flue Gas Heat Recovery the heat energy can be recovered from the exhaust gases, and COOL exhaust vented into the atmosphere. Some days these exhaust gases can even be cooler than the outdoor air temperatures.
    The recovered energy from these exhaust gases can be utilized back in the building or facility as building space heating or to heat domestic water or for industry as heated process or plant wash down water. At a hotel or university this recovered energy can even be used to heat the swimming pools.
    The US DOE states that for every million Btu's of energy recovered and utilized back in the building or facility, 118 lbs of CO2 will NOT be put into the atmosphere.
    This may not sound like much, but the DOE also states that if a 60 watt light bulb is left on for 24 hours, it will generate 3.3 lbs of CO2. How many light bulbs will have to be changed or turned off HOURLY to keep up with the CO2 reduction happening hourly in the boiler room?
    And then there is the last benefit. WATER is being created during this heat recovery process, and this distilled water can be used for a number of purposes or treated and used for many more.
    Coal to natural gas power plants. These converted power plants with the technology of Condensing Flue Gas Heat Recovery can be operating at almost 100% energy efficiency. There will be almost zero exhaust going into the atmosphere, but oxygen instead.
    Thousands of additional jobs can be created at each power plant site that gets set up to convert these power plants to ZERO waste.
    Natural gas is is our countries saving grace for many years to come, and it can still produce electricity 24/7.
  • Mel Tisdale on June 20 2012 said:
    Join the dots! Concurrent with this article is one discussing the dramatic changes taking place in the Arctic due to Climate Change, which is largely caused by the burning of fossil fuels.

    Old Mother Nature's laws are immutable. Burn fossil fuels and the temperature will go up. While there is some disagreement as to how much it will go up, the consensus is that unless we act, and act dramatically, the younger generation and beyond are in for a pretty torrid time.

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