Fracking Leads to Economic Growth

It is no secret that fracking is greatly contributing to national economic growth. Affordable natural gas and energy industry growth as a whole are both the direct result of oil and gas development due to fracking in the U.S. One recent example of this growth is the continuously evolving economic impact of the Eagle Ford Shale, a 50-mile-wide by 400-mile-long formation running from South Texas all the way east. The Eagle Ford Shale produces natural gas, condensate, oil, and natural gas liquids with extremely favorable margins.

Now regarded as spearheading a U.S. manufacturing renaissance due to foreign companies expressing interest in its investment, the Eagle Ford Shale has been credited with the following:

• 116,000 jobs supported in 2012.
• More than $6.1 billion in total economic impact across a 20-county region from oil and natural gas development in 2012.
• More than $1 billion in revenue to local government and $1.2 billion in state tax revenue in 2012.
• 127,000 jobs projected with an economic impact of $89 billion for Texas in 2022.
• 527,000 barrels of crude oil per day throughout 2013 and a projected 771,000 barrels of crude oil per day by 2022.

Texas is not the only U.S. state reaping the benefits of shale and hydraulic fracturing; since the very beginning of drilling at the Marcellus Shale in Pennsylvania, job growth as well as the types of jobs available has continued to greatly increase. The Marcellus Shale natural gas drilling has indeed had a measurable effect on Pennsylvania’s economy and is expected to generate more than 200,000 additional jobs by 2020. Additionally, Pennsylvania has already added 130,000 jobs throughout the state since employment bottomed out in 2010.

Thanks to shale and hydraulic fracturing, the United States is now facing its long-awaited opportunity for significant economic and energy benefits. This continuously rising growth has led to the great success of companies in the energy sector, in turn, leading to many new job openings and a high demand for new hires throughout the next year and coming decades. This current and increasing energy industry boom is why it is so imperative to partner with a company for energy sector staffing for both job seekers and employers alike.

FootBridge Energy Services has over a decade of experience matching energy sector candidates and employers with their perfect fit. Knowing the details, trends, and history in the energy industry is what gives FootBridge Energy a unique edge when it comes finding and hiring the top candidates in the natural gas field. If you are looking to begin your career in the energy sector, contact the energy staffing experts at FootBridge Energy today!