Tuesday, December 27, 2011

Shale Yeah

There are a lot of different opinions out there on the economy and lots of different suggestions for what we can do to get it back on track and create jobs for American workers. One thing that you would think we all could agree on was that if there was a way to add a million new manufacturing jobs without new government spending or implementing restrictions on trade, it would be great for the American economy. Shale-Gas Boom Spurs Race (WSJ-sub req):

The boom in low-cost natural gas obtained from shale is driving investment in plants that use gas for fuel or as a raw material, setting off a race by states to attract such factories and the jobs they create.

Shale-gas production is spurring construction of plants that make chemicals, plastics, fertilizer, steel and other products. A report issued earlier this month by PricewaterhouseCoopers LLC estimated that such investments could create a million U.S. manufacturing jobs over the next 15 years.

Lower energy costs means lower production costs means more jobs. In the United States, in places where manufacturing has been hit hard in recent years like Ohio, West Virginia, and Pennsylvania.