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Page added on September 20, 2012
Shale Gas: An American Success Story
Shale gas development, an activity that scarcely existed 10 years ago, is a U.S. success story that supports more than one million American jobs and generates billions of dollars in government revenues, Jack Williams, president of XTO Energy, a subsidiary of Exxon Mobil Corporation, said Thursday.
In a speech at the Shale Gas Insight Conference in Philadelphia, PA, Williams said that as a result of American innovation, the country has emerged as the clear global leader in shale development as the demand for natural gas continues to grow.
“Wherever we look, we see energy development creating multiplier effects that ripple through the U.S. economy,” Williams said. “The World Economic Forum estimated that oil and gas production accounted for nine percent of all new U.S. jobs last year. A significant part of that growth is coming from shale development.”
In Pennsylvania, Marcellus Shale development generated $11 billion in value-added economic impact in 2010, while supporting 140,000 jobs and contributing $1 billion in state and local tax revenue, he said. Nationwide, shale gas development is expected to support 1.5 million jobs, and contribute nearly $200 billion to GDP by 2015. Those benefits are expected to double by 2035.
Industry, government — and a willing public — must take the right steps to ensure the United States remains a leader in shale development, so that U.S. citizens and communities can enjoy the full economic benefits of this energy advancement, Williams said.
He said the industry must work to improve public confidence in shale development through transparency and education efforts to increase knowledge of industry standards and practices that protect water and air quality.
ExxonMobil has been active in communication and transparency efforts, which include disclosing hydraulic fracturing fluids components, development and publication of operational guidelines to protect air quality and water management and support for a university-based training initiative for state regulators and policymakers.
Policymakers can do their part to support the industry’s growth and development by maintaining a stable, transparent and fact-based regulatory environment that encourages investment, he said.
Williams said that because of the size of the shale gas resource, the United States will be able to export liquefied natural gas (LNG), which will increase domestic benefits.
“Just as we do with exports of grain, cars and other American products, exporting LNG can create economic value that would not have existed otherwise,” Williams said. “LNG exports could encourage increased domestic gas production, which would, in turn, support the creation of more American jobs.”
14 Comments on "Shale Gas: An American Success Story"
DC on Thu, 20th Sep 2012 9:35 pm
Innovation, shale gas, are two words that just dont belong together in the same sentence. But, then again, this is a call for people to swallow oil industry propaganda hook, line and sinker. They are getting upset people aren’t buying there BS as readily as they used to.
RZ is always good for a laugh though, them and its equally vacuous partner in propaganda, the Oil and Gas Urinal.
Plantagenet on Thu, 20th Sep 2012 10:13 pm
Kudos to the US oil and gas industry for the innovations they have shown in developing shale gas. As President Obama has pointed out, the USA now has a 100 year supply of NG to help us cope with peak oil.
SOS on Thu, 20th Sep 2012 10:15 pm
Im not sure exactly what propaganda this article would be presenting? It seems to me that a reliable, plentiful, easy to get and clean burning fuel is in the best interests of everyone.
There is no more efficient way to turn a generator than with a natural gas plant. Any other way is more expensive, by a long shot. Thats why we dont use other types of “alternative” fuels in abundance.
They are right on point with the call to export. Right now so much natural gas is being flared off and totally wasted. It should be stored and exported. Problem is the storage isnt there and the president and allies have done everythig they can to make sure it isnt. They like to see it all wasted.
SOS on Thu, 20th Sep 2012 10:16 pm
This development of NG was done dispite Obama and his allies. They are working against it even as they take credit.
Poordogabone on Thu, 20th Sep 2012 11:55 pm
So it’s OK that “fracking” contaminates water supplies. Who cares about water? fish fuck in water. We’d be exporting gas yeehaa!
BillT on Fri, 21st Sep 2012 12:41 am
Well, we know where Planet and SOS stand. They actually believe all of the BS coming out of Big Petro these days. Proves that there are fools born everyday, and most pf them are in the US. Wait until the financial system crashes and there is no funding for all those thousands of temporary wells and the whole shale system goes into the trash bins of history. Did you notice that China is now running a non-dollar trading forum? The beginning of the end of the dollar.
Rick on Fri, 21st Sep 2012 1:20 am
Shale gas = BS!
BTW, BillT always has the best response. I agree with him most of the time, but not completely. PS – I’m not a doomer, but a realist. Not, saying BillT is a dommer, just saying.
mike on Fri, 21st Sep 2012 7:06 am
better to be a doomer than a Pollyanna with a normalcy bias in the grand scheme of things.
at least doomers hurt nobody but themselves if they are wrong
Pollyanna optimists threaten the entire species of the planet if they are wrong.
I know who I’d rather side with
KingM on Fri, 21st Sep 2012 11:21 am
I’d rather have thorium reactors providing our electricity and NG saved for transportation as a bridge until we can electrify our transportation sector.
BillT on Fri, 21st Sep 2012 12:08 pm
Perhaps the term ‘doomer’ should be changed to ‘realist’? I’m not wishing for doom, just expressing my observations and opinions after 64 years of living in the Empire.
Living outside of the empire for 4+ years, makes it easier to see. Living in a ‘3rd world’ country opens your eyes to the unfairness of the current system where The West, ~10% of the world’s population, uses over 50% of the world’s resources. The fact that the other 90% want their full share is only logical and it appears that they plan to get it, over the dead body of the West if necessary.
Mark on Fri, 21st Sep 2012 1:11 pm
100 years of natural gas is fantasy land. The proven reserves will be gone in about 12 years, tight shale may add 15-20 years. It’ll also be expensive.
Hugh Culliton on Fri, 21st Sep 2012 1:59 pm
Bullshit.
SOS on Fri, 21st Sep 2012 3:27 pm
Doomers do hurt people, a lot of people through misguided, pudding headed policy and regulation. To hold to a philosophy that is obviously incorrect does nothing to help anyone. Unfortunately many of the doomers lack any kind of critical thinking and logic is terribly skewed, laughable in many instances.
Any policy made on the ideas of doomers is a failed policy. The facts are there, so is the propaganda. It starts with climate and ends with solar/wind to save us. Solar and wind are unstainable, the markets are proving that.
We dont need saving we need orderly development of proven resources to create and capture the public wealth and assure all of us that energy will be reasonably prices and readily available. Government policy is working against that now.
The idea that fracking does anything but provide us with unlimited energy is wrong headed. Propaganda, falsified evidence and pepetuation of lies is all part of the scheme. If you lack the eductaion to properly apply logic and critical thinking skills you will find yourself in the company of fools. Many doomers fit that description.
SOS on Fri, 21st Sep 2012 3:30 pm
Did the guy that lives overseas move there tho save money? Is he saving money by exploiting the poor people and consuming resources developed cheaply by cheap labor in the 3rd world?