By Economy Watch
America is in the midst of a natural gas boom and about 200,000 gas wells have been drilled in the last decade. In fact, the Marcellus shale formation alone created 123,000 new jobs and contributed nearly $10 billion in value to the Pennsylvanian economy in 2011.
While experts and environmentalists remain locked in fierce debate over America’s natural gas boom, the fact is the recent plunge in the price of natural gas in America has made it cheaper for utilities to produce electricity. In fact, natural gas prices are at a 10-year low and the economic benefits has spilled over to the labour and manufacturing sectors.
The following infographic by The Bakken explores the facts and figures behind America’s natural gas boom.
Economy Watch, (EconMatters author archive here)
The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.
© EconMatters All Rights Reserved | Facebook | Twitter | Post Alert | Kindle