Fueling the U.S. manufacturing renaissance
Manufacturers employ nearly 12 million people in the United States. For every one job created in a factory, three to five jobs are created across the broader economy, because of the follow-on uses of products in the downstream manufacturing process and related economic activity, which we call a multiplier effect. Natural gas that is exported benefits the GDP a single time, when it is sold. The energy that powers manufacturing boosts GDP by a factor of eight because of the multiplier effect. In order to see continued growth of the U.S. economy, we must do all that we can to create an environment that protects, fosters, and prioritizes growth of the manufacturing industry.
Lucky for us, we are in the midst of a manufacturing renaissance as a result of the development of shale gas technology. Natural gas is an essential building block of American manufacturing. Not only is it used to power the manufacturing facilities at which these are made, but it is also the key raw material used to create many consumer products ranging from footballs to carpets, from automobiles to smart phones, and so much more.
But, this growth appears to be slowing; real manufacturing value added rose 4.3 percent in 2011, after increasing 11.2 percent in 2010.
According to a 2011 PricewaterhouseCoopers study, it is estimated that high rates of shale gas recovery could result in a million new manufacturing jobs in 2025.
But, without shale, there could be one million unrealized jobs in our country by 2025.
These new manufacturing jobs are often overlooked because it is easier to see direct employment from the natural gas and oil drilling process. But increased manufacturing means more jobs in the U.S., more revenue in our marketplace, and a much more stable, robust U.S. economy.
Help us grow our economy by protecting our shale gas reserve and further fueling the manufacturing renaissance. Learn how you can take action.
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http://online.wsj.com/article/SB10001424052702304072004577325582170978416.html