American Gas - June 2012 - (Page 5)

industry insights in the know All together now The House’s Marcellus Shale Caucus is meeting with numerous experts, gathering science and data, and encouraging conversation. here is no larger energy issue in the Northeast than the exploration and extraction of natural gas from the Marcellus Shale play. While estimates vary as to the amount of natural gas locked in shale formations throughout the region running from southwestern Virginia through upstate New York, there is no question that the shale gas will be a major natural energy resource for the United States for decades to come. T The Promise of Shale President Obama correctly highlighted the potential for clean, American natural gas in his most recent State of the Union address. The more domestic energy we produce, the lower the energy costs to American families and businesses. As the cost of labor in developing Asian nations rises, lower energy costs mean new and returning manufacturing jobs to the United States. American natural gas holds the promise of re-igniting U.S. manufacturing and our economy. Estimates indicate that by 2035, the oil and natural gas industry will invest $1.9 trillion in developing the nation’s shale resources. At a time when our nation continues to struggle with a slow-growth economy, local businesses supporting the larger industry are springing up daily in areas where the Marcellus play is being actively developed. Local families and businesses feel the benefits of increased opportunity coupled with lower utility costs. Financial reality is forcing government at all levels to do more with less. State and local governments see the potential revenues and positive impacts that the Marcellus Shale brings to the regional economy and tax base. New tax revenues are growing on direct and indirect commerce while rising wages are creating more taxable and disposable income. Shale gas also has the potential to be a longterm game changer for our national security Photo by RuhRfisch and domestic energy concerns. The growth in oil and natural gas production over the past two years has brought enormous benefits for our nation’s search for energy security. For the past four decades the United States has depended on foreign oil imports to meet its energy needs. Too often the countries supplying this energy are not ideal trading partners, located in unstable regions with conflicting interests. Domestic fuel prices are victim to world demand and Middle East and transportation instability. Ever-increasing gasoline prices threaten our vitality and lower consumers’ buying power. More domestic energy production will help lessen the impact of global volatility and provide more energy security as our economy grows. A Platform for Discussion Of course, extracting natural gas from the Marcellus play by using new and improving hydraulic fracturing techniques has created many passionate supporters and opponents of using this resource. In February 2011, we created the Marcellus Shale Caucus in the U.S. House of Representatives. The purpose of the caucus is to provide a rEPs. tOM rEEd, r-n.y., and MArK CritZ, d-Pa., co-chair the Marcellus shale Caucus, which was formed in the u.s. house of representatives in February 2011. June 2012 AmericAn GAs 5

Table of Contents for the Digital Edition of American Gas - June 2012

American Gas - June 2012
Contents
President’s Message
In the Know
In the News
Safety First
Fueling Progress
2012 AGA Membership Directory
Places to Be
Noteworthies
Advertisers’ Index
Jobline
Marketplace
Facts on Gas

American Gas - June 2012