Chemistry Council of New Jersey Applauds Governor Christie's Decision on Natural Gas

Conditional Veto is Victory for New Jersey's Manufacturing Economy, Jobs  

TRENTON, N.J., Aug. 25, 2011 /PRNewswire-USNewswire/ -- The Chemistry Council of New Jersey (CCNJ) today commended Governor Chris Christie's conditional veto of legislation that would have prohibited hydraulic fracturing for natural gas just as New Jersey's need for affordable energy is growing.  Governor Christie is imposing a twelve-month moratorium on any potential hydraulic fracturing in New Jersey, and instructing the New Jersey Department of Environmental Protection to study other states' best practices, as well as studies from U.S. Department of Energy and U.S. Environmental Protection Agency, in order to establish regulations that foster environmentally safe hydraulic fracturing practices should it ever take place in the state.

"Governor Christie recognizes that New Jersey benefits enormously from natural gas production," said Hal Bozarth, executive director of CCNJ. "Adequate, affordable natural gas supplies help sustain thousands of high-paying chemistry industry jobs.  Natural gas is also important to more affordable electricity for New Jersey's manufacturers, small businesses, and citizens.

"U.S. shale gas production is spurring a manufacturing renaissance in the country, and New Jersey can potentially benefit through economic development and job growth in the state," Bozarth continued.  "Without today's decision, New Jersey would have become the first state with a permanent hydraulic fracturing ban.  That would be no way to encourage natural gas production the nation so desperately needs."

New Jersey is the nation's 11th largest natural gas-consumer. Its industrial consumers pay 74 percent above the national average for electricity.  Most of New Jersey's 55,000 chemical manufacturing jobs depend on domestically-produced natural gas and natural gas liquids, which are an essential power source as well as the raw material for products that go into 96 percent of U.S. manufactured goods, including cosmetics, electronic products, pharmaceuticals and plastics.

A recent study by the American Chemistry Council found that relatively modest increases in supplies of ethane from natural gas would add 395,000 jobs in the U.S. chemical sector and supplier industries, increase America's economic output by $132.4 billion and boost federal, state, and local tax revenues by $4.4 billion.  

As a leading consumer of natural gas, New Jersey will earn a share of these benefits.

"Governor Christie's decision signals that natural gas is an important part of our energy future," Bozarth said.  

The Chemistry Council of New Jersey (CCNJ), founded in 1955, is the premier trade and advocacy organization representing the interests of about 70 New Jersey manufacturers in the business of chemistry. Our membership consists of large and small companies that are part of New Jersey's chemical, pharmaceutical, consumer packaged goods, petroleum, flavor & fragrances and precious metals industries. The CCNJ is committed to a better quality of life through science.

SOURCE Chemistry Council of New Jersey (CCNJ)

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