Policy Issues: Energy, Environment & Transportation
1.9 million. That’s how many Americans relied on natural gas for a job in 2015, says a comprehensive study released by IHS Economics on the benefits of natural gas development to the U.S. economy and the manufacturing sector. New natural gas transmission lines were responsible for more than 347,000 jobs, including 60,000 in manufacturing. The study predicts demand for natural gas will rise by 40 percent in the next 10 years, due largely to manufacturing and power generation.
Energy is a real concern for the metals industry, as both an input cost and, for many metals companies, as a customer. In the United States, decreasing dependency on foreign oil and increasing domestic energy sources would be a boost for manufacturing.
The U.S. House of Representatives recently passed a comprehensive energy bill to increase natural gas production and streamline approvals for the production and export of liquefied natural gas and other fossil fuels. If lawmakers are successful in their negotiations, and if the House and Senate pass the final legislation, it would be the first comprehensive energy package passed by Congress in nearly 10 years.