By April 03 2015
Through the brutally cold winter of 2013-14, consumers in eastern Pennsylvania and New Jersey could have saved as much as $893 million if the PennEast pipeline were in place, according to a new Concentric economic study. This new study reflects the clear fact that critical infrastructure projects are the linchpin to broadening the benefits of Pennsylvania’s shale revolution across our entire economy.
While shale development supports nearly 45,000 good-paying union construction jobs, across the Marcellus region, more jobs are ready to be unleashed as pipelines are built to transport these abundant resources to end-users. Throughout the next two decades, the projected investment of $641 billion in midstream infrastructure growth – projects critical to delivering shale’s cost savings to consumers and American manufacturers – would annually support 432,000 jobs across the U.S. and Canada, according to an Interstate Natural Gas Association of America study.
Pennsylvania’s manufacturing obituary had been written over and over again, but thanks to our ample supplies of cheap and reliable natural gas, our manufacturers are experiencing a revival. Getting these resources – the building blocks of manufacturing – to industrial users and petrochemical producers will allow us to reclaim our global edge in this important and highly competitive sector.