Unconventional gas supporting 1.4 million US jobs by 2015

Natural gas production from shale, coalbed methane, and tight sands is expected to support 1.4 million US jobs by 2015, said a new study released by IHS Global Insight.

Unconventional gas activity supported more than 1 million jobs in 2010, said the report, entitled, “The Economic and Employment Contributions of Unconventional Gas Development in State Economies.”

Unconventional gas activity accounted for 53% of total US gas production in 2010 and is projected to rise to 79% of total US gas production by 2035, the study said.

Nearly $3.2 trillion in cumulative investments in the development of unconventional gas are expected to fuel increased production during 2010-35, IHS said.

“At a time when the US 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 US economy,” said IHS Vice-Pres. John Larson, lead author of the study.

During 2010-15, the top 10 producing states as ranked by unconventional gas-related employment are listed as Texas, Louisiana, Colorado, Pennsylvania, Arkansas, Wyoming, Ohio, Utah, Oklahoma, and Michigan.

These 10 states are expected to experience a compound job growth rate of nearly 8%/year, with Pennsylvania and Colorado leading with expected compound growth rates of 14% and 10%, respectively. Meanwhile, total US employment is expected to grow at a significantly lower average rate of 1.6% during the same period, IHS said.

Of the nearly 1.5 million unconventional gas activity jobs contributing to the economy by 2015, nearly one-fifth are projected for nonproducing states.

The top 10 nonproducing states as ranked by jobs growth due to unconventional gas development in 2015 are projected to be California, Florida, Georgia, Missouri, North Carolina, Indiana, Wisconsin, Minnesota, Tennessee, and Maryland.

“When it comes to unconventional natural gas, a state does not need to have a gas play to benefit economically” Larson added.


By Paula Dittrick,

OGJ Senior Staff Writer

Font: http://www.ogj.com


About Lone Star Sealing Technologies
Lone Star Sealing Technologies was founded in 2004 to better serve the customers of Lone Star Fasteners and Walker Bolt. Our core product line consists of API Ring Joint Gaskets, Proprietary Wellhead Gaskets and Spiral Wound Gaskets. We also provide specialty cut gasket services for our OEM clients as well as general distribution for Raised Faced and Full Faced flange gaskets to ANSI B16.5 dimensions. LoneStar have a variety of high quality of gaskets and other options for fluid sealing applications built to endure, even under the toughest conditions. You can be confident that we go to every extreme to make sure that our products are built to perform. As manufactures and distributors of industrial gaskets for the oil and gas, and petrochemical industries, we know that it takes to produce quality that lasts and we continually tweak product lines in an effort to improve even the most proven gasket in the industry. In 2005 Lone Star acquired the assets of K&W Manufacturing, a Houston based API Ring Gasket producer. Established in 1964, K & W Manufacturing is an industry leader, among a few selected manufacturers in the world, approved by the American Petroleum Institute to apply the API monogram to Ring Joint Gaskets. In 2006 Lone Star acquired Grange Gaskets and Grange Precision Engineering (now Lone Star Grange) based in Leeds, England. Since 1948, Grange has been one of the United Kingdoms premier specialty gasket companies, specializing in Heat Exchange Gaskets of all types and configurations. Grange is world renowned for it's specialty clad gasket capabilities and quick service on spiral wound gaskets.

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