The State of American Energy is Strong
January 4, 2011
So says Jack Gerard, President and CEO of the American Petroleum Institute. And this is particularly the case in Pennsylvania.
"In 2010, oil and natural gas companies created 57,000 new jobs in Pennsylvania and West Virginia alone as part of the Marcellus Shale natural gas development. These are good-paying, stable jobs that are in high demand right now," Gerard told reporters earlier this month as API announced its annual report on American energy.
Development of the Marcellus Shale Formation sooner rather than later means more jobs for Keystone residents, as well as greater revenue for the state. It’s estimated that more than 200,000 new jobs could come to the state during the next decade as a result of Marcellus Shale. And between now and 2012, nearly $1.8 billion in local and state tax and revenue would be generated, if the Marcellus Formation is properly developed.
See Jack Gerard's speech on the State of American Energy.
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