American Chemistry Council Statement on the NPC Report on Prudent Development of Natural Gas and Oil Resources

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Sep 15, 2011, 01:33 ET

WASHINGTON, Sept. 15, 2011 /PRNewswire-USNewswire/ -- Today the National Petroleum Council, a federal advisory committee to the U.S. Secretary of Energy, released a report, "Prudent Development – Realizing the Potential of North America's Abundant Natural Gas and Oil Resources." Additional information is available at http://www.npc.org/

American Chemistry Council (ACC) President and CEO Cal Dooley issued the following statement:

"Today's report from the National Petroleum Council provides yet another verification that new domestic supplies of natural gas, particularly shale gas, have the potential to kick-start economic growth, revitalize our nation's manufacturing sector and create hundreds of thousands of new jobs.

"Shale gas is proving to be a game-changer for America's chemistry industry, giving domestic chemical manufacturers a significant competitive edge for the first time in years – new investments and new plants have already being planned and announced by several U.S. chemical companies. The benefits of new shale gas development reach far beyond gas producers and the chemical industry. For example, an American Chemistry Council report found that a reasonable increase in shale gas production would result in 400,000 new jobs for the business of chemistry and many supplier industries, and shale supplies have already driven significant growth in exports.

"The full potential from shale gas will only be realized with sound state regulatory policies that allow for aggressive production in an environmentally responsible way. We support efforts to continually improve production processes, including the use of best practices. Chemistry makes many of these advanced production technologies possible."

http://www.americanchemistry.com

The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care®, common sense advocacy designed to address major public policy issues, and health and environmental research and product testing. The business of chemistry is a $720 billion enterprise and a key element of the nation's economy. It is one of the nation's largest exporters, accounting for ten cents out of every dollar in U.S. exports. Chemistry companies are among the largest investors in research and development. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure.

SOURCE American Chemistry Council