Shale: Firing up the economy and creating jobs!
The front page of Bloomberg Nov 3, 2011 had an article reflecting the little know secret about shale and its potential in job creation and kick starting the US economy. http://www.bloomberg.com/news/2011-11-03/shale-gas-reserves-have-potential-to-reignite-u-s-economy.html
A few weeks ago I commented about the enormous potential natural gas and oil production from shale and hydro fracturing has for the US economy. This article illustrates my prediction. It shows how a decade ago, oil companies were looking at a bleak future, utility companies and manufacturing plants draining the limited domestic production sources of natural gas, and were having to rely on foreign sources for natural gas.
“Shovel Ready Jobs?”
Ok, we heard in the 2008 election cycle the then candidate Barack Hussein Obama, Senator from IL would produce “shovel ready jobs” across this great nation. Has anyone seen any of his “shovel ready jobs?”
Maybe you have not been looking in the right sector! Because according to Aubrey K McClendon, Chesapeake Energy Corp CEO, in the last year his work force has grown by 30% to 12,200 employees and his recruiters are looking to fill another 700 positions now. Dow Chemical expects to create 1,300 new construction jobs for each of its two new propane dehydrogenation units and a new ethylene cracker and then employ 400 – 500 long-term Dow jobs to operate and maintain these facilities. Electric utilities are shifting from coal to gas because the coal facilities are antiquated and gas is cheaper and burns cleaner. New York state is expecting to see anywhere from 13,000 to 54,000 new jobs created as a results of the Marcellus Shale play.
Aubrey McClendon believes the US has the capacity to become the Saudi Arabia of natural gas. He also predicts natural gas will help revive domestic manufacturing. Natural gas is the new industrial renaissance. So again, where are the “shovel ready jobs?”
About the author
I joined the staff of CFAA in late 2008. As the VP of Operations, it is my responsibility to ensure daily activities and processes are coordinated and stay on track to provide excellent service to our membership. My forty years of administrative/management experience is a combination of private and public healthcare, commissioned officer, and small business. I graduated from Suffolk University, Boston, MA, a BSBA with honors in 1977. I completed my masters from Washington Univerisity, St. Louis, MO with an MHA. I married my wife, Kay, in May of 1976, and we have a daughter, son and daughter-in-law.
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