Pittsburgh and Ohio Rebound With Shale Gas

1. Pittsburgh Rebound -- "Pittsburgh, once known as America’s Steel City, is laying its Rustbelt heritage to rest by fostering growth in education and health services, while drawing strength from the booming natural-gas industry it keeps at a distance. 

Drilling into Marcellus shale deposits is banned in Pittsburgh, yet hydraulic-fracturing, or fracking, operations in the countryside nearby have helped bring in jobs and boost demand for office space in Pennsylvania’s second-biggest city.

New methods of extracting natural gas and oil are boosting the economies of states from Pennsylvania to North Dakota and Texas. Unconventional gas production alone is forecast to spur almost $3.2 trillion in new investment by 2035 and support more than 2.4 million jobs in the lower 48 U.S. states, according to an HIS Inc. study released in June. It projected a 14 percent annual compound-growth rate in Pennsylvania jobs tied to gas." 

2. Ohio Rebound -- "Today, Ohio once again has the opportunity to become an economic power, creating the jobs and economic revitalization that goes along with having reliable, more affordable energy. And once again, the solution lies right beneath our feet in the vast domestic shale formations that hold immense reserves of oil and natural gas. 

The good news is that in Ohio, policies and actions are already encouraging and supporting shale energy development, opening access to new lands and adopting stringent regulatory controls to address potential environmental and public health and safety concerns. As a result, shale energy is expected to contribute 65,000 jobs, with an average salary of $50,225 per job, and more than $4.8 billion to Ohio’s economy by 2014. Nationally, shale energy contributed 600,000 jobs and more than $76 billion to U.S. GDP in 2010 alone.

Here in Ohio, evidence of the potential for this shale-driven economic engine abound. The domestic steel industry, particularly in Youngstown, Canton and the Mahoning Valley, is enjoying its first growth boom since the 1980s, driven largely by the demands of oil and gas producers who need pipe, drilling platforms, heavy equipment and specialty tools. Last year shale development helped to create 2,275 new Ohio jobs and increased Ohio’s gross domestic product by $162 million. And that growth is, in turn, causing an increase in consumer confidence — people are buying cars again, which further increases the demand for steel and increases employment in Ohio.

For the first time in more than 100 years, Ohio has the chance to once again be a leader in the production of oil and gas. Shale energy provides the state a unique opportunity to build on its history to ensure a strong economic future, ensuring more affordable energy while helping to increase our nation’s energy security."