The Economic Benefits Of Natural Gas
Earlier this month, IHS Economics released a comprehensive study on the benefits of natural gas development to the overall U.S. economy and the manufacturing sector in particular.
Specifically, the study found natural gas access contributed to 1.9 million U.S. jobs in 2015. Additionally, new natural gas transmission lines were responsible for more than 347,000 jobs, including 60,000 in manufacturing. Natural gas also saved the average American family an average $1,337. The study predicts natural gas demand will rise by 40 percent over the next ten years, due in large part to manufacturing and power generation, while supply will rise 48 percent.
According to the National Association of Manufacturers, which sponsored the study, “Because energy innovation is lowering production costs, IHS expects energy-intensive industries, such as chemicals, metals, food and refining, to outperform the U.S. economy as a whole through 2025.”
The full study can be found here.
As a reminder, MSCI strongly supports local, state, and federal efforts to expand natural gas production. Read more about MSCI’s position on this issues, and others on its advocacy webpage.