The natural gas revolution

“The nation’s fast-growing supply of cheap natural gas is setting off a manufacturing revival that’s expected to create hundreds of thousands of jobs as companies build or expand plants to take advantage of the low prices.

Royal Dutch Shell announced this month that it chose a site near Pittsburgh for a facility to convert ethane from locally produced natural gas into ethylene and polyethylene. They’re used to make plastics that go into packaging, pipes and other products. The planned ethane cracker would employ a few hundred workers.

It’s among nearly 30 chemical plants proposed in the U.S. in the next five years, according to the American Chemistry Council. The projects would expand U.S. petrochemical capacity by 27% and employ 200,000 workers at the factories and related suppliers, says Council President Cal Dooley, a major turnaround. As U.S. natural gas prices soared in the late 1990s, chemical makers moved overseas, laying off 140,000 employees, Dooley says. But the U.S. has seen a natural gas boom in recent years, with producers using new drilling techniques to extract fuel from shale formations in Texas, Pennsylvania and other regions. U.S. natural gas prices, at slightly more than $2 per million British thermal units, are about 75% below Western Europe rates.”

Source:http://www.usatoday.com/money/industries/energy/story/2012-03-27/natural-gas-manufacturing-boom/53812740/1

Advertisements
This entry was posted in Energy. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s