Huge Economic Impact Of Eagle Ford Shale, Largely Unknown Outside Of Texas

Much of this development and its significant economic impact is due to the combination of the relatively new technologies of horizontal drilling and hydraulic fracturing.  Amazingly, the oil and gas industry derives very little positive recognition from these feats, including equally important oil and gas development plays like the Marcellus Shale in the northeastern U.S., the Barnett Shale in north central Texas, the Haynesville Shale in northwestern Louisiana, and the Bakken Formation development in North Dakota.

The environmental lobbyists and global warming scare-mongers have been so effective with their propaganda they have managed to effectively squelch these great achievments and largely hide them from the American public.  As some might say, "go figure", are they with America or against her?
Peter

Eagle Ford Shale Generated More Than $25 Billion in Revenue for South Texas in 2011

UTSA projects the shale to create 117,000 jobs by 2021

Source: http://ccbr.iedtexas.org/

Click to Downlaod the Eagle Ford Shale Impact Report

Written by Christi Fish
Associate Director of Media Relations, The University of Texas at San Antonio

SAN ANTONIO, May 9, 2012 – Development of oil and natural gas in the Eagle Ford Shale contributed $25 billion in total economic output to the region in 2011, according to a study released today by the Center for Community and Business Research at The University of Texas at San Antonio Institute for Economic Development (UTSA).
"The Eagle Ford Shale has proven to be one of the most important economic engines in the state," said Dr. Thomas Tunstall, director of the UTSA Center for Community & Business Research, and the study’s principal investigator. "In 2011 alone, the play generated over $25 billion in revenue, supported 47,000 full-time jobs in the area, and provided $257 million in local government revenue."
The study also concluded that in 2011 shale development:

• Paid $3.1 billion in salaries and benefits to workers;
• Provided more than $12.6 billion in gross regional product;
• Added more than $358 million in state revenues, including $120.4 million in severance taxes;
• And spurred a triple-digit sales tax revenue increase in various local counties.
  

  Download the Eagle Ford Shale Impact Presentation

"We view the Eagle Ford activity as an economic opportunity of a lifetime," said Mario Hernandez, president of the San Antonio Economic Development Foundation. "The key goal is the increase in investment and jobs. And if the communities will partner with the private companies that are creating these jobs, it can be a win-win for everybody."

The increased revenue from the Eagle Ford Shale is rebuilding local communities. New schools and new hospitals are being built, and new training programs have been launched to maximize hiring from the local workforce. The study projects the creation of approximately 117,000 full-time jobs by 2021.

View the video recording of the Eagle Ford Shale Impact Presentation and Study Release from May 9, 2012

Oil And Gas Industry To The Rescue

Pssssst......spread the word.....the oil and gas industry is creating jobs, hiring people, paying taxes instead of spending taxpayers money, and producing inexpensive (natural gas) energy.  In addition to that good news, the myth of man-caused global warming is finally being put to rest, (see here) and things are looking up, a lot more than they have been the last few years anyway.   Let's keep this kind of activity going.
Peter

Drill, Drill, Drill = Jobs, Jobs, Jobs

June 2, 2012 | 21 commentsby: Mark J. Perry | 

Mark J. Perry

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While yesterday's disappointing employment report reflects an economy struggling to create jobs during an extended, sub-par "jobless recovery," it's been a much rosier employment picture in one of America's most successful "shovel-ready" job-creating industries: Oil and Gas Extraction.
The chart above displays the monthly percentage changes in employment levels since January 2007 for oil and gas extraction jobs compared to total nonfarm payroll jobs. As of last month, total nonfarm payroll employment is 3.0%, and 4.1 million jobs, below the January 2007 level. In contrast, the explosion of new oil and gas jobs has increased employment in that industry by more than 38% since January 2007. Over the last 12 months, oil and gas companies have added 21,800 new workers, at a rate of almost 100 new hires every business day. And this just accounts for the new jobs created that involve the actual drilling, extraction and production of oil and gas.
A recent study found that for every one new job added in oil and gas extraction activities, there were three new additional jobs created elsewhere in the economy. The report also found that "the jobs-multiplier effect of U.S. oil and natural gas activity is higher than many other U.S. industries, including the financial, telecommunications, software and non-residential construction sectors. This is the result of the energy industry’s long supply chains and relatively high levels of spending by employees and suppliers." As a result of the multiplier effect, the U.S. economy has potentially been adding almost 400 new jobs per day over the last year due to increased oil and gas production.
Imagine what the jobless rate might be today, and imagine all of the additional shovel-ready, energy-related jobs (direct and indirect jobs) that could have been created over the last several years in the oil and gas industry (and its supporting industries), if the Obama administration: a) hadn't been so unfriendly to the low-cost, job-creating, dependable fossil fuel industry (think Keystone XL pipeline for example) that doesn't require picking the pockets of the taxpayers; and b) instead been so over-friendly to the subsidy-dependent, high-cost, unreliable but politically-favored "green" energies. On the other hand, imagine what the jobless rate might be today if we hadn't had the tremendous "energy-stimulus" to the U.S. economy that has resulted over the last few years from increased oil and gas drilling due to technological advances of hydraulic fracturing and horizontal drilling, and taking place mostly on private land?