At Governor's Energy Summit, ACC President Heralds Manufacturing Renaissance Driven by Shale Gas

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Dec 06, 2011, 10:16 ET

ROANOKE, W.V., Dec. 6, 2011 /PRNewswire-USNewswire/ -- Natural gas from the Marcellus Shale could help revitalize American manufacturing in West Virginia and bring new, high-paying jobs to the state, American Chemistry Council President Cal Dooley said today at Gov. Earl Ray Tomblin's summit, "West Virginia: Energy Powering Economic Development."

"While many experts have focused on the jobs and revenues that could come from exploration and production of natural gas from the Marcellus Shale, the manufacturing story is just beginning to be told," Dooley said. "Shale gas could generate thousands of new jobs in the chemical industry and its supply chain. It's one of the most promising developments for new manufacturing jobs in at least a decade."

Affordable, abundant shale gas is creating a global competitive advantage for the domestic petrochemical industry. After years of high, volatile natural gas prices that helped lead to the loss of 140,000 chemical jobs, the industry is expanding once again. Chemical manufacturers make a key product, ethylene, from the ethane found in shale gas, giving U.S. companies a significant edge over Western European competitors using a more expensive, oil-based feedstock.

"New chemical business can spur growth in supplier sectors, help produce more materials for export, and create jobs," Dooley noted. A recent ACC study found that the $3.2 billion investment in a major ethylene production complex in West Virginia would generate 12,000 jobs in chemical and supplier industries, $729 million in wages and $95 million in state tax revenue. Nationally, a 25 percent increase in ethane production would result in nearly 400,000 new jobs. "Shale gas is a game changer."

However, 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. "America's chemistry industry supports efforts to continually improve production processes, including the use of best practices. We make many of these advanced production technologies possible," Dooley pointed out.

Dooley emphasized that the United States can be one of the most energy-rich countries, if we fully develop our whole portfolio of energy sources – from natural gas, oil and coal to alternatives and renewables. "By committing to developing a bipartisan, comprehensive energy policy, we can lay the foundation for a renaissance in American manufacturing in the United States," Dooley said. "Remember: A bright economic future is lying just beneath our feet."

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